Deals
China Filling Warehousing Gap With Purchase of 220-Year-Old Firm
- Mercuria to sell 51% Stake in Henry Bath for $60 million
- Trafigura said it plans to exit metals warehousing in China
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China’s proposed acquisition of a majority stake in 220-year-old Henry Bath & Son Ltd. from Mercuria Energy Group Ltd. shows the world’s biggest commodities consumer is expanding into metals warehousing even as western companies retreat.
Beijing-based CMST Development Co. said on Monday it will pay $60 million for a 51 percent interest, marking the first major foray by a Chinese state-owned company into a London Metal Exchange warehousing business.