Mitsui to buy 12.85% of upstream arm MOECO

摘要

Tokyo-Japan's Mitsui has agreed to acquire a 12.85% stake in Mitsui Oil Exploration Company from four stakeholders for Yen 32 billion ($356 million), the company said February 3.Following the purchase of the stake from Mitsui Chemicals, Sumitomo Mitsui Banking Corporation, Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, Mitsui's voting interest in MOECO will increase from 54.61% to 67.46%.