Japan's Idemitsu to proceed with share sale after court rejects family petition

Japan's Idemitsu to proceed with share sale after court rejects family petition

A signboard of Idemitsu Kosan Co is seen in Tokyo, Japan. REUTERS/Kim Kyung-Hoon/Files

Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family‘s petition to block the stock offering, potentially clearing the way for a takeover of Showa Shell Sekiyu.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter