Business Feb. 09, 2012 - 04:13AM JST ( 0 )

TOKYO —

Mitsui & Co Ltd, Chinese Heilongjiang Nongken Beidahuang Trade Group Co and its wholly owned subsidiary Beidahuang Grain Logistics Co have reached an agreement that newly issued equity shares of BDHGL will be allocated to Mitsui.

There are a number of conditions that must be met prior to Mitsui subscribing for the newly issues equity shares, including the relevant approvals being obtained from the Chinese government. After these conditions have been fulfilled, Mitsui will acquire a 40% equity share of BDHGL.

Through this transaction, Mitsui will participate in grain (such as corn and soybean) collection, storage, logistics and trading business in Heilongjiang, which is one of the largest grain producing areas in China.