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Equity Participation in Gavilon Agriculture Holdings
Supporting Overseas M&A by Japanese Companies

  • Region: North America
  • Manufacturing and Services
  • Equity Participations
NR/2013-54
August 12, 2013
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a shareholders' agreement with Marubeni Corporation (Marubeni) and Gavilon Agriculture Holdings, Co. (GAH), a wholly-owned subsidiary of Marubeni incorporated in the State of Delaware of the United States. Pursuant to the agreement, JBIC will acquire preferred shares of GAH for an aggregate investment of 60 billion yen.
     
  2. Marubeni traded 25 million tons of grain in the fiscal year ending on March 31, 2013 and has designated the strengthening and expansion of its global grain value chain as one of the focus areas in the new investment plan set forth in its Mid-Term Management Plan:(Global Challenge 2015) (FY2013-15). Against this backdrop, in July 2013 Marubeni acquired the grain and fertilizer trading business (GavilonAg) of Gavilon Holdings, LLC, one of the major U.S. grain merchants, through GAH and Gavilon Agriculture Investment, Inc., the controlling company of GavilonAg. By supporting Marubeni' s acquisition of GavilonAg, JBIC' s equity participation will contribute to improving the international competitiveness of Marubeni' s grain and fertilizer trading business.
     
  3. The acquisition of GavilonAg secures Marubeni a position in the chain of commerce from which Marubeni can directly purchase grain from U.S. farmers who are the world' s largest grain exporters and collect, store and distribute their output. Thus, it is expected to improve Marubeni' s international competitiveness. This is consistent with Japanese food policy, as it falls within the category of overseas agricultural investment promoted in the Food, Agriculture and Rural Areas Basic Act (legislated in 1999).
     
  4. As a public financial institution, JBIC will continue to support overseas business activities of Japanese companies by drawing on its various financial facilities and schemes, including its function of equity participation.
     

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