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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi UFJ Financial Group, Inc.    8306   JP3902900004

MITSUBISHI UFJ FINANCIAL GROUP, INC.

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Britain's SSE sells stake in West Yorkshire facilities for £995 million

10/13/2020 | 02:57am EST
FILE PHOTO:  An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry

(Reuters) - British utility SSE on Tuesday agreed to sell its 50% stake in West Yorkshire-based Ferrybridge and Skelton Grange assets for 995 million pounds in cash, as part of its strategy to dispose of non-core assets by autumn 2021.

The company said the stake in the two facilities, which convert residual residential, commercial and industrial waste into renewable energy, would be sold to a fund managed by Mitsubishi UFJ Financial Group owned First Sentier Investors.

The assets are a joint venture between SSE and U.S.-based waste-to-energy firm Wheelabrator Technologies, which has been aiming to sell its power plants in the United Kingdom.

"This sale marks a major step in our plans to secure at least 2 billion pounds from disposals by autumn 2021, with just over 1.4 billion pounds now delivered," SSE Finance Director Gregor Alexander said in a statement.

The company's move follows the sale of stakes in certain wind farm projects to renewable infrastructure fund Greencoat UK Wind and French oil major Total, among others.

The renewable power generator and network operator said it would use the cash from the disposals to support its 7.5 billion pound plan to invest in low-carbon energy infrastructure.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Aditya Soni)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI UFJ FINANCIAL GROUP, INC. -3.19% 448.5 End-of-day quote.-24.39%
SSE PLC 2.09% 1369 Delayed Quote.-4.80%
TOTAL SE 1.41% 36.33 Real-time Quote.-26.16%
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Financials
Sales 2021 3 993 B 38 217 M 38 217 M
Net income 2021 635 B 6 079 M 6 079 M
Net Debt 2021 - - -
P/E ratio 2021 9,05x
Yield 2021 5,58%
Capitalization 5 778 B 55 358 M 55 302 M
Capi. / Sales 2021 1,45x
Capi. / Sales 2022 1,48x
Nbr of Employees 150 800
Free-Float 88,5%
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Technical analysis trends MITSUBISHI UFJ FINANCIAL GROUP, INC.
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 581,67 JPY
Last Close Price 449,80 JPY
Spread / Highest target 93,4%
Spread / Average Target 29,3%
Spread / Lowest Target 0,04%
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Managers
NameTitle
Hironori Kamezawa President & Director
Nobuyuki Hirano Executive Chairman
Takayoshi Futae Group Co-COO & GM-Global Commercial Banking
Tetsuya Yonehana Group CFO & Senior Managing Executive Officer
Hiroki Kameda Group Chief Information Officer
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