Overview
- Mitsubishi is acquiring Aethon Energy Management’s U.S. gas and pipeline assets for a total value of $7.53 billion including debt.
- The consideration comprises $5.2 billion in equity and the assumption of $2.33 billion of Aethon debt, according to a Tokyo Stock Exchange filing.
- The assets are located in Texas and Louisiana, with Mitsubishi aiming to bolster natural gas and LNG earnings through vertical integration.
- Reporting characterizes the deal as the largest purchase by a Japanese company in the American shale sector to date.
- Mitsubishi shares fell about 2 percent following the announcement.