ANNOUNCEMENT 14 Jun 2019

On June 14th, 2019, the Japan Bank for International Cooperation (JBIC) announced that it would support Itochu Marubeni Iron and Steel's subsidiary in acquiring equity interests in American CTAP, LLC ("CTAP").

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

JBIC (2019) 伊藤忠丸紅鉄鋼株式会社による米国法人CTAP, LLCの買収資金融資について Regarding Itochu Marubeni Iron and Steel Co., Ltd. acquisition financing for the acquisition of US corporation CTAP, LLC
Available at:
https://www.jbic.go.jp/ja/information/press/press-2019/0614-012246.html

Inception date: 14 Jun 2019 | Removal date: open ended

Financial assistance in foreign market

On June 14th, 2019, the Japan Bank for International Cooperation (JBIC) announced that it would provide Itochu Marubeni Iron and Steel's subsidiary, Sooner Inc., with a loan for the acquisition of 100% of equity interests in American CTAP, LLC ("CTAP"). CTAP is one of the largest Oil Country Tubular Goods (OCTG) in the US. The company has a strong presence in the Rockies and Bakken Region. 

Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.

AFFECTED SECTORS