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Eneos to buy Japan Renewable Energy for $1.8 billion -Nikkei By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: JX Nippon Oil & Energy Corp’s Eneos brand logo on a tanker lorry in a train at a station nearby its refinery in Yokohama, Japan February 7, 2017. REUTERS/Kim Kyung-Hoon

TOKYO, Reuters – Eneos Holdings Inc. plans to purchase Japan Renewable Energy from Goldman Sachs (NYSE) and the Singaporean sovereign wealth fund GIC.

This deal, according to the Nikkei would be the largest purchase of a Japanese oil company in a major renewables business. Eneos seeks to move away from fossil fuels.

Eneos spokeswoman said that although the company had considered many options for expanding its renewable energy businesses, nothing was finalized.

($1 = 111.3800 yen)

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