2016.10.18
Taiyo Oil Company, Limited (“Taiyo”) hereby announces that it has reached a definitive agreement on the acquisition of 100% outstanding shares of Nansei Sekiyu Kabushiki Kaisha (“NSS”) from Petrobras International Braspetro B.V.(“PIB”), a subsidiary of Petróleo Brasileiro S.A.(“PB”)(Headquarters: Brazil)
Purpose of the Transaction
Taiyo is to operate the oil terminal business with the aim to contribute to the stable supply of the oil products to the Okinawa market, as well as to generate business synergies with its own existing oil business in the future.
Overview of NSS
Company Name
Nansei Sekiyu Kabushiki Kaisha
Location
858, Aza Onaha, Nishihara-cho, Nakagami-gun, Okinawa, Japan 903-0210
Representative
President & CEO Edison Massaki Ishikura
Ownership
Wholly owned by Petrobras International Braspetro B.V.
Business Description
Oil terminal business
Share Capital
JPY 44,160 million (as of September, 2016)
Date of Establishment
May 24, 1968
Overview of PIB
Company Name
Petrobras International Braspetro B.V.
(99.98% share owned by PB)
Location
WWenna 762, 9th Floor, 3014 DA Rotterdam, the NetherlandMajor Shareholders
Petróleo Brasileiro S.A.
Number of Shares to acquire
2,685,664 (All the shares issued, as of September, 2016)
Schedule of the transaction
Execution date of the agreement
October 17, 2016
Closing date
Closing date is targeted to be by the end of 2016 (details remain to be discussed)