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Japanese Mitsui to Buy Treasury Stock of Russian RusHydro Worth $332Mln

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RusHydro - Sputnik International
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Japanese trading company Mitsui & Co will purchase equivalent of 5 percent outstanding shares of Russia's RusHydro hydroelectricity company for 21.7 billion rubles ($332 million at the current exchange rates, Japanese media reported Wednesday.

MOSCOW (Sputnik) — Mitsui & Co is expected join the Japan Bank for International Cooperation (JBIC) in the deal on purchase of treasury stock, to the Nikkei Asian Review newspaper reported.

The media outlet added that this sale of shares would be the first sale of the company's treasury stock to the foreign company.

According to the newspaper, the companies are expected to sign a memorandum of understanding at the upcoming a memorandum of understanding.

The 2016 Eastern Economic Forum will be held in Vladivostok on September 2-3. The upcoming forum is expected to attract some 2,500 participants, including those from China, Japan, South Korea, India, Vietnam, Australia, the United States and Singapore. More than 130 agreements valued at around $15.4 billion are expected to be signed at the forum.

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