Abu Dhabi’s International Petroleum Investment Co. will buy a 20.85 stake in Cosmo Oil Co. of Japan, expanding in Asia’s second-biggest fuel market, Cosmo Oil said Tuesday.
Infinity Alliance Ltd., wholly owned by IPIC, will pay ¥89.2 billion for 176 million new Cosmo shares, the company said in a statement to the Tokyo Stock Exchange. The Abu Dhabi investment agency will become Cosmo’s largest shareholder.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.
We humbly apologize for the inconvenience.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.