Mitsui & Co., Ltd. ("Mitsui"; head office: Tokyo; President and CEO: Tatsuo Yasunaga) announced that it acquired shares of PANGEA (EMIRATES) LIMITED ("PANGEA") and PANGEA became wholly owned subsidiary of Mitsui.
1. Reason for the consolidation
Mitsui agreed with Vale S.A. ("Vale") to participate in the Moatize coal mine project ("Moatize project") and the Nacala Corridor rail & port infrastructure project, which Vale has been operating and developing in Mozambique. In the course of the participation, Mitsui acquired whole shares of PANGEA, a financing company to Moatize project, from Vale.
March 27, 2017
3. Impact on Mitsui's consolidated financial statements
This transaction is not expected to have any significant impact on Mitsui's consolidated financial results.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.