Exclusive: Marubeni set to cut Gavilon energy arm out of takeover
TOKYO (Reuters) – Japanese trading house Marubeni Corp (8002.T: Quote, Profile, Research, Stock Buzz) is in advanced talks to cut Gavilon’s energy business out of its planned takeover of the U.S. commodity merchant, two sources with direct knowledge of the deal said on Friday.
The move comes as Marubeni works to finalize a $5.6 billion acquisition, including debt, of Gavilon and its core agriculture business in a deal that would propel it into the top ranks of global grain traders and allow it to tap rising Chinese demand.
Marubeni looks to leave energy biz out of Gavilon deal -sources
TOKYO, June 7 (Reuters) – Japanese trading house Marubeni
Corp is in advanced talks to leave the energy business
of Gavilon out of its planned takeover of the U.S. agriculture
merchant, two sources with direct knowledge of the deal said on
Friday.
Marubeni is working on acquiring Gavilon’s core
agriculture-focused business in a deal that would propel it into
the top ranks of global grain sellers and allow it to tap rising
Chinese grains demand.
Brent crude falls below $102 on Chinese data, supply concerns
TOKYO, May 1 (Reuters) – Brent crude futures fell below $102
a barrel on Monday as investors worried about the outlook for
growth in the world’s two largest oil consumers, the United
States and China, and U.S. oil stocks rose more than expected.
The crude benchmark fell more than 7 percent during April,
its biggest monthly decline in 11 months, hurt by economic
indicators in recent weeks suggesting the global economy remains
in a fragile state.
Russia, Japan edge toward breakthrough in gas supplies
TOKYO, April 19 (Reuters) – Russia and Japan are in intense
talks on expanding gas-supply agreements ahead of a summit later
this month, moving ever closer to a breakthrough that could
redraw the East Asia energy map, sources involved in the
discussions told Reuters.
The talks between the second largest gas producer and the
biggest liquefied natural gas importer could receive official
sanction on April 29 when Prime Minister Shinzo Abe visits
President Vladimir Putin in Moscow. Any official approval on
increasing sales would come at the expense of other LNG
suppliers, such as Australia, Qatar and Malaysia.
Japan firms eye price rises in response to weaker yen – Reuters survey
TOKYO (Reuters) – The weakening yen is leading some Japanese companies to examine lifting prices, a Reuters poll showed on Friday, a possible sign that bold policy steps recently enacted are working to pull the world’s third-largest economy out of deflation.
Further illustrating approval for Prime Minister Shinzo Abe’s fiscal and monetary measures, many firms answering the Reuters Corporate Survey said that were the Bank of Japan to meet its goal of 2 percent inflation in two years, it would boost profits.
Abenomics’ kimono effect: Japan spending thaws at high end
TOKYO (Reuters) – Feeling bolder after a 50 percent jump in Tokyo share prices inflated his stock portfolio in recent months, Akira Otomo surprised his wife with a new kimono and matching traditional obi belt costing more than $8,000.
After a decade and a half of self-imposed austerity, there are signs that wealthier Japanese shoppers are spending more. Confidence is rising, and with it sales of high-end goods and clothes, giving retailers a boost.
Marubeni again pushes back timing for Gavilon deal close-source
TOKYO, April 2 (Reuters) – Japanese trading house Marubeni
Corp has again been forced to delay the closure of its
$5.6 billion purchase of U.S. grain merchant Gavilon because
Chinese regulators have not finished their appraisal of the
transaction.
It is one of two major deals being held up by Chinese
anti-trust authorities. Glencore International Plc on
Tuesday extended the closing of its $35 billion purchase of
Xstrata Plc due to an ongoing investigation by officials
in Beijing.
Higher 2013 profits from Japan Inc may stay in-house: Reuters poll
TOKYO (Reuters) – More than half of Japanese firms expect a profit rise in the country’s next traditional business year, a Reuters poll showed on Friday, but investors looking to gain from the fattened coffers may be dismayed as companies keep the cash in-house.
Japanese economic sentiment is rising as Prime Minister Shinzo Abe’s policy mix of monetary and fiscal stimulus lifts hopes the export-driven economy is emerging from a slump caused from the fallout of the European debt crisis and a territorial spat with major trade partner China in the financial year that ends later this month.
Higher 2013 profits from Japan Inc may stay in-house-poll
TOKYO, March 22 (Reuters) – More than half of Japanese firms
expect a profit rise in the country’s next traditional business
year, a Reuters poll showed on Friday, but investors looking to
gain from the fattened coffers may be dismayed as companies keep
the cash in-house.
Japanese economic sentiment is rising as Prime Minister
Shinzo Abe’s policy mix of monetary and fiscal stimulus lifts
hopes the export-driven economy is emerging from a slump caused
from the fallout of the European debt crisis and a territorial
spat with major trade partner China in the financial year that
ends later this month.
Flooding complicates clean-up at Japanese nuclear plant
TOKYO (Reuters) – Tokyo Electric Power Co is struggling to stop groundwater flooding into damaged reactors at its wrecked Fukushima plant and it may take four years to fix the problem, possibly delaying the removal of melted uranium fuel.
A March 11, 2011, earthquake and tsunami knocked out cooling equipment at the company’s Fukushima Daiichi plant north of Tokyo, triggering the worst atomic disaster since Chernobyl in 1986. More than 160,000 people were forced from their homes.
