Japan’s Mitsui acquire 50% of $400m wind power project in Mexico

Japanese diversified trading firm Mitsui & Company Ltd (TYO:8031) said it would buy a 50% interest in French renewable energy company EDF Energies Nouvelles SA’s Eoliatec del Istmo SAPI de CV, which owns the Bii Stinu Wind Project in Mexico.

In particular, Mitsui will buy the stake via its newly set-up unit MIT Renewables Mexico SAPI de CV under an agreement with EDF Energies Nouvelles’ subsidiary EDF EN Mexico S de RL de CV.

The project, with a total cost of some MXN5.1bn (USD399m/EUR305m), is located in Oaxaca, Mexico and has capacity of 164MW. It is still under construction and is slated to start commercial operation in June 2013 to provide energy to five major corporations under 15-year power purchase accords, Mitsui noted.

Through the deal, Mitsui will reach participation in 2,922MW of gross generation capacity in Mexico, it said.

Private equity sponsor KKR increases investment in Vietnam’s Masan to $359m

US private equity major KKR & Co LP (NYSE:KKR) said it would pour a further USD200m (EUR153m) into Vietnam’s Masan Consumer Corp, a unit of Masan Group Corp, in a move that brings its total investment in the fish sauce maker to USD359m, marking its largest Asian investment.

The deal, the biggest private equity transaction in Vietnam, follows an investment of USD159m by KKR in April 2011, its first buy in the country, which gave it a 10% stake in Masan Consumer.

Under the agreed terms, KKR will purchase new and secondary Masan Consumer shares, it said, without providing details about the size of the additional stake it would buy.

Commenting on the acquisition, Lu Ming, KKR’s regional chief for Southeast Asia, said it reflected the US company’s view that Vietnam was a growth market.

KKR has nearly 100 staff in Asia at its seven offices in the region.