Mitsubishi is in advanced talks to buy the assets of Aethon Energy Management for close to $8 billion, people familiar with the matter have said, in what would be the Japanese conglomerate’s biggest ever acquisition.
Tokyo-based Mitsubishi could announce a deal with the U.S. energy-focused investment firm in the next couple of months, according to the people. Abu Dhabi National Oil had also been considering a potential transaction involving Aethon, Bloomberg News reported in April.
A deal would likely be structured as a purchase of Aethon’s portfolio, which includes natural gas production operations and midstream assets, some of the people said. While a deal is close, talks could still be delayed or falter, they said, asking not to be identified discussing confidential information. It’s also possible another bidder could emerge for Aethon, they added.
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