Tsuyoshi Kameoka Representative Director, President, Group CEO of Showa Shell Sekiyu K.K. speaks about Idemitsu Kosan company's plans to buy a 1/3 stake in Showa Shell Sekiyu from Royal Dutch Shell during a news conference held at the New Otani Hotel on July 30th, in Tokyo, Japan. Idemitsu Kosan Co Ltd. is currently Japan's second biggest oil refiner with Showa Shell ranked fifth. Idemitsu Kosan will pay approximately $1.4 billion for the stake, and the deal should see it competing for the number one spot in the competitive Japanese market. Shell will retain a small stake in Show Shell and will benefit from the influx of capital. Pending approval the deal is expected to be complete in 2016. Pictured from left to right Hiroshi Watanabe Executive Officer, Tsuyoshi Kameoka Representative Director, President, Group CEO both from Showa Shell Sekiyu K.K. with Takashi Tsukioka Representative Director & Chief Executive Officer and Susumu Nibuya Director of Idemitsu Kosan Co Ltd. (Photo by Rodrigo Reyes Marin/AFLO)

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Idemitsu announces plans to buy $1.4 billion stake in Showa Shell
Tsuyoshi Kameoka Representative Director, President, Group CEO of Showa Shell Sekiyu K.K. speaks about Idemitsu Kosan company's plans to buy a 1/3 stake in Showa Shell Sekiyu from Royal Dutch Shell during a news conference held at the New Otani Hotel on July 30th, in Tokyo, Japan. Idemitsu Kosan Co Ltd. is currently Japan's second biggest oil refiner with Showa Shell ranked fifth. Idemitsu Kosan will pay approximately $1.4 billion for the stake, and the deal should see it competing for the number one spot in the competitive Japanese market. Shell will retain a small stake in Show Shell and will benefit from the influx of capital. Pending approval the deal is expected to be complete in 2016. Pictured from left to right Hiroshi Watanabe Executive Officer, Tsuyoshi Kameoka Representative Director, President, Group CEO both from Showa Shell Sekiyu K.K. with Takashi Tsukioka Representative Director & Chief Executive Officer and Susumu Nibuya Director of Idemitsu Kosan Co Ltd. (Photo by Rodrigo Reyes Marin/AFLO)

Filename: aflo_gxta_idemitsuannouncesplanstobuy1.4billionstakeinshowashell019.JPG
Photographer: All Rights Reserved
Source: AFLO
Date 30 Jul 2015
Location: Tokyo Japan
Credit: Rodrigo Reyes Marin/AFLO
Copyright: All Rights Reserved
Model Release: No
Property Release: No
Restrictions: No third party sales
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Keywords:
Idemitsu Kosan
Showa Shell Sekiyu
company
business
economy
Royal Dutch Shell
Japan
Tsuyoshi Kameoka
Takashi Tsukioka
Hiroshi Watanabe
Susumu Nibuya