Mitsui Sugar Co., Ltd. and Mitsui & Co., Ltd. completed the acquisition of SIS '88 Pte Ltd from ED&F Man Holdings Limited.
September 29, 2018
Share
Mitsui Sugar Co., Ltd. (TSE:2109) and Mitsui & Co., Ltd. (TSE:8031) signed share purchase and binding agreement to acquire SIS '88 Pte Ltd from ED&F Man Holdings Limited for $100 million on September 21, 2018. The consideration will be paid in cash. Under the terms, Mitsui Sugar and Mitsui will be acquiring 70% and 30% stake of SIS shares respectively. 10 million shares of SIS '88 will be acquired out of which Mitsui Sugar will acquire 7 million shares. Mitsui Sugar will fund the acquisition through funds on hand and loans. Post-acquisition, SIS '88 will become a consolidated subsidiary of Mitsui Sugar. SIS '88 reported sales of approximately $133.2 million in 2017. Completion of the transaction is expected between late September 2018 and early October 2018. The transaction is expected to generate a material gain on disposal for ED&F Man. Rabobank International Singapore Branch acted as financial advisor for ED&F Man Holdings Limited.
Mitsui Sugar Co., Ltd. (TSE:2109) and Mitsui & Co., Ltd. (TSE:8031) completed the acquisition of SIS '88 Pte Ltd from ED&F Man Holdings Limited in September 2018.
Mitsui DM Sugar Holdings Co Ltd, formerly Mitsui Sugar Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of raw sugar, refined sugar and sugar-related products. The Company operates in three business segments. The Sugar segment is engaged in the manufacture and sale of raw sugar, refined sugar and sugar-related products. The Food Science segment is engaged in the manufacture and sale of natural sweeteners, pigments, flavors, sugarcane extract, agar, bio products, nutritional therapy foods, and foods for swallowing disorders. The Real Estate segment is engaged in the leasing of land, stores and offices, as well as the provision of solar power generation business.
MITSUI DM SUGAR HOLDINGS CO., LTD. 
