LONDON, Aug. 8, 2024 /PRNewswire/ -- Javelin Global
Commodities ("Javelin") headquartered in London and a leading global commodities
trading firm, has announced today that ITOCHU Corporation
("ITOCHU") and Javelin have entered into a strategic transaction
involving a minority equity investment by ITOCHU in Javelin.
Javelin will continue to be majority owned and controlled by its
management team members.
Headquartered in Minato-ku, Tokyo, ITOCHU is a trading and industrial
company engaging in domestic trading, import/export and overseas
trading of various products and communications technology, and
finance, as well as business investment in Japan and overseas.
As a new shareholder in Javelin, ITOCHU will bring its strong
experience in Japan and the
broader Asia region and enhance
Javelin's ability to access new customers and commodity markets.
ITOCHU will also bring its global expertise and outreach to support
Javelin with its green business objectives in supplying
transitional commodities and providing long term solutions to
support Javelin's clients with their low carbon commodity needs
across capital, trade flows, technologies and Green Carbon and
Renewable Project Development.
"Javelin is delighted to expand our relationship with ITOCHU as
we continue our journey of growth and that ITOCHU has placed their
trust in us by becoming an equity investor in our company" said
Peter Bradley, Chief Executive
Officer of Javelin.
ITOCHU said: "We are excited to expand our relationship with
Javelin due to its exceptional team of professionals and successful
track record. We look forward to participating in Javelin's
long-term success as a minority equity owner to collaborate with
them, in particular around the green business."
Paul Hastings LLP served as legal advisor to Javelin. Herbert
Smith Freehills LLP served as legal advisor to ITOCHU.
About Javelin
Founded in 2015, Javelin Global
Commodities is a global commodities physical trading, logistics,
operations, financing and investment group headquartered in the
United Kingdom, engaged across
multiple commodities sectors, including power generation fuel
commodities, steel raw material, oil & gas, metals, steel
scrap, hydrocarbons, freight, softs, and renewables. Javelin
has grown to become one of the leading commodity traders in the
world and operates across 100 countries and six continents with
over 160 employees serving the energy, steel and industrial
sectors, with offices in London,
Bangalore, Calgary, Melbourne, New
York and Singapore.
About ITOCHU
The history of ITOCHU Corporation dates
back to 1858 when the Company's founder Chubei Itoh commenced linen
trading operations. Since then, ITOCHU has evolved and grown over
160 years. With approximately 90 bases in 61 countries, ITOCHU is
engaging in domestic trading, import/export, and overseas trading
of various products such as textile, machinery, metals, minerals,
energy, chemicals, food, general products, realty, information and
communications technology, and finance, as well as business
investment in Japan and
overseas.
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