Deals
Jera to Buy EDF Trading’s Coal Business Amid Expansion
- Companies expect to reach a final agreement in December
- EDF selling fossil-fuel power assets amid environment concerns
This article is for subscribers only.
Jera Co., a venture between two of Japan’s biggest power utilities, agreed to acquire EDF Trading Ltd.’s coal-trading business as part of a push to lower fuel costs and expand its overseas business.
The Tokyo Electric Power Co. Holdings Inc. and Chubu Electric Power Co. venture signed a non-binding agreement to buy all of EDF Trading Australia Pty, including a 7.5 percent interest in the Narrabri coal mine in Australia, and 100 percent of Amstuw BV, which operates the Rietlanden coal terminal in the Netherlands, the companies said in a statement on Tuesday. A final agreement is expected in December, the companies said.