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December 20, 2016

Volume 6 Issue 37

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Idemitsu Buys 31 Percent of Showa Shell

Idemitsu Kosan Co. closed a 159 billion (approximately U.S. $1.4 billion) acquisition of 31.3 percent of fellow Japanese refiner Showa Shell Sekiyu K.K. yesterday upon antitrust clearance, granting it a stake just shy of its original one-third target.