Mitsui & Co. (8031.TO) and Tokyo Gas Co. (9531.TO) will jointly acquire five natural gas power companies operating in Mexico and other companies for a total of Y110 billion, the Yomiuri Shimbun reported Wednesday.

The two companies said their holding company in Mexico has agreed to buy the five power stations and other businesses, including a pipeline company, from Gas Natural SDG S.A. (GAS.MC), a Spanish gas firm.

The paper said Mitsui has been investing in power and other Mexican infrastructure projects in recent years, and will pay about Y35 billion to purchase the firms, while Tokyo Gas will foot about Y15 billion. The remaining Y60 billion will be funded through a financing loan.

The acquisition is expected to be completed in the first half of this year.

The total aggregate capacity at the five power stations is 2,233 megawatts.

-Tokyo Bureau, Dow Jones Newswires; +81-3-6269-2770
Mitsui (NASDAQ:MITSY)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Mitsui Charts.
Mitsui (NASDAQ:MITSY)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Mitsui Charts.