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Equity Participation in Metito Holdings Limited
Supporting Investment into an Overseas Water Company by Japanese Companies

  • Region: The Middle East
  • Infrastructures
  • Equity Participations

July 8, 2014
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed a shareholders' agreement with Metito Holdings Limited (MHL) and its shareholders, along with Mitsubishi Corporation (MC) and Mitsubishi Heavy Industries, Ltd. (MHI), to subscribe for classified shares up to USD92 million (JBIC portion). Under this agreement, MC and MHI will acquire 38.4% of ordinary shares from existing shareholders.
     
  2. In this transaction, MC and MHI will make an equity investment into MHL, an integrated water management company headquartered  in Dubai, United Arab Emirates. On the other hand, JBIC will acquire classified shares from MHL in order to fund future growth opportunities of the company.
     
  3. This partnership is expected to complement the water related business of MC, MHI and MHL, respectively, as all three parties will bring different strengths to this transaction: MC has a wide range of experience among sectors in a variety of regions across the globe; MHI provides high technologies in the water sector based on its track records for large sized projects; and MHL has extensive engineering capabilities and on the ground presence in key markets across Middle East, North Africa and Asia, which enables the execution and delivery of sustainable projects, locally.  The support by JBIC for this transaction will lead to the establishment of a business platform for MC and MHI within these regions, and will contribute to maintaining and strengthening the international competitiveness of these two companies in the water sector.
     
  4. As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies by drawing on its various financial facilities and schemes, including its function of equity participation.


 

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