SocGen in talks to buy top Japan commods futures broker
TOKYO: Societe Generale will start exclusive talks to buy Japan’s largest commodities futures broker from Japan’s Himawari Holdings Inc, the latest foreign move into the country’s booming commodities market. Himawari Holdings said it wanted to wrap up the talks to sell most of commodities brokerage unit Himawari CX Inc to Societe Generale’s Fimat International Banque SA in the next three months, citing growing competition in the industry.
A spokesman for Himawari Holdings said the value of the deal and transaction date would be decided during the talks.
Increasing pressure from bigger new comers has forced Himawari Holdings to sell the commodities broking unit even though it was the largest commodities brokerage of its kind in Japan. reuters
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| Friday, December 11, 2009
