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Mitsubishi makes strategic acquisition
Ashurst and Johnson Winter & Slattery have advised on Mitsubishi's strategic acquisition of Port Bonython Fuels Pty Ltd.
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Firms: Ashurst (Mitsubishi Corporation); Johnson Winter & Slattery (Stuart Petroleum Fuels Pty Ltd and Senex Energy Limited)
Area: E&R
Value: Undisclosed
Key players: Ian Williams, Andrew Carter and Ian Kellock led for Ashurst
Deal significance: Mitsubishi Corporation has successfully completed its acquisition of Port Bonython Fuels Pty Ltd from Stuart Petroleum Fuels Pty Ltd, a wholly-owned subsidiary of ASX listed Senex Energy Limited. The acquisition was first announced to ASX on 9 March 2012.
Port Bonython Fuels Pty Ltd owns a terminal project involving the construction of liquid hydrocarbons including refined petroleum (e.g. diesel, motor spirit etc...) handling, storage and distribution facilities at Port Bonython in the upper reaches of Spencer Gulf.
The acquisition is of strategic importance to Mitsubishi Corporation and is consistent with its desire to strengthen its existing operations in the energy and resources sector.
