Japan based petroleum company Enoes Holding Inc. (TYO: 5020) is looking forward to purchase Japan Renewable Energy in a deal which will cost about $1.8 billion (200 billion yen). This development was first reported on Nikkei Business daily on September 7.
Currently, Japan Renwable Energy is jointly owned by United States multinational investment bank and financial service provider Goldman Sachs group Inc. (GS) and Singapore based sovereign wealth fund GIC.
According to Nikkei Bussiness daily, this deal will go down as first major acquisition of renewables companies by a leading Japanese company.
A while back Eneos announced having taken a shift away from production of fossils fuels, the company’s spokesperson says that they are contemplating various options to expand their renewable energy businesses however, at the moment this acquisition deal is still at initial stages no decision has been reached upon yet.