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MarketScreener Homepage  >  Equities  >  Tokyo  >  Mitsui & Co Ltd    8031   JP3893600001

MITSUI & CO LTD (8031)
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Mitsui : Japan's Mitsui in talks to take over suburban Brazil rail company - sources

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11/08/2018 | 07:35pm CET
FILE PHOTO: The logo of the Japanese trading company Mitsui & Co. is seen in Tokyo

SAO PAULO (Reuters) - Japanese group Mitsui & Co Ltd is in talks to acquire suburban Brazil railway company SuperVia SA after a key creditor, state-owned development bank BNDES, blocked other offers for the company, said two sources with knowledge of the matter.

One of the sources said a binding proposal led by Starboard Restructuring Partners was rejected earlier this week by the development bank, because the proposal would not transfer the SuperVia debt with BNDES to the acquirer.

Now Mitsui, already a shareholder in Odebrecht Mobilidade, a holding company that controls Rio de Janeiro-based SuperVia, with a 40 percent stake, is in talks to take over SuperVia and assume the debt with the development bank.

Talks to sell the suburban rail company are being led by Brazilian creditors of conglomerate Odebrecht SA as the corruption-ensnared group faces pressure to sell assets and reduce debt, Reuters reported.

Another proposal by United Arab Emirates' sovereign wealth fund Mubadala Development Co PJSC was rejected.

Odebrecht, Mitsui and Starboard did not immediately comment on the matter.

O Globo newspaper said in a report earlier this week Mitsui was being considered as the most probable candidate to acquire SuperVia.

(Reporting by Tatiana Bautzer)

By Tatiana Bautzer

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Financials (JPY)
Sales 2019 5 573 B
EBIT 2019 -
Net income 2019 453 B
Debt 2019 3 088 B
Yield 2019 4,31%
P/E ratio 2019 7,05
P/E ratio 2020 7,20
EV / Sales 2019 1,12x
EV / Sales 2020 1,13x
Capitalization 3 136 B
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 2 285  JPY
Spread / Average Target 27%
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Managers
NameTitle
Tatsuo Yasunaga President, CEO & Representative Director
Masami Iijima Chairman
Takakazu Uchida Representative Director & Chief Financial Officer
Satoshi Tanaka Representative Director & Head-Public Relations
Masaki Saito GM-Information & Communications Technology
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