ANNOUNCEMENT 10 Feb 2009

In February 10th 2009, Tokyo Electric Power, Toshiba and Japan Bank for International Cooperation (JBIC) subscribed to a new share issue of 117 million shares in Uranium One of Canada (U1), at a price of Cdn$2.30 per share, equal to approximately Cdn$270 million (about $179,145,000 USD) in total. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Tokyo Electric Power, Toshiba and Japan Bank for International Cooperation to Acquire 19.95% Equity Interest in Uranium One of Canada
https://www.jbic.go.jp/en/information/press/press-2008/0210-6135.html

Inception date: 10 Feb 2009 | Removal date: open ended
Still in force

Financial assistance in foreign market

The Tokyo Electric Power Company, Incorporated (TEPCO), Toshiba Corporation (Toshiba), and the Japan Bank for International Cooperation (JBIC) announced on February 10th 2009 that a joint investment in Uranium One Inc. (U1), a major, Canadian-listed producer and marketer of uranium. TEPCO, Toshiba and JBIC have agreed to subscribe to a new share issue of 117 million shares in U1, at a price of Cdn$2.30 per share, equal to approximately Cdn$270 million (about $179,145,000 USD) in total. Concurrently, TEPCO, Toshiba and JBIC have also signed a strategic relationship agreement (SRA) with U1, and a Uranium Offtake Agreement.

The full share issue will be taken up by Japan Uranium Management Inc. (JUMI), a special purpose entity established by the three Japanese companies in British Columbia, Canada. Once JUMI completes the transaction, U1's outstanding shares will total 586.61 million, and JUMI will have a holding of about 19.95%. TEPCO and Toshiba will each hold 40% of JUMI's shares, and JBIC will hold 20%.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
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