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LONDON, Aug. 8, 2024 /PRNewswire/ -- Javelin Global Commodities ("Javelin") headquartered in London and a leading global commodities trading firm, has announced today that ITOCHU Corporation ("ITOCHU") and Javelin have entered into a strategic transaction involving a minority equity investment by ITOCHU in Javelin. Javelin will continue to be majority owned and controlled by its management team members.
Headquartered in Minato-ku, Tokyo, ITOCHU is a trading and industrial company engaging in domestic trading, import/export and overseas trading of various products and communications technology, and finance, as well as business investment in Japan and overseas.
As a new shareholder in Javelin, ITOCHU will bring its strong experience in Japan and the broader Asia region and enhance Javelin's ability to access new customers and commodity markets. ITOCHU will also bring its global expertise and outreach to support Javelin with its green business objectives in supplying transitional commodities and providing long term solutions to support Javelin's clients with their low carbon commodity needs across capital, trade flows, technologies and Green Carbon and Renewable Project Development.
"Javelin is delighted to expand our relationship with ITOCHU as we continue our journey of growth and that ITOCHU has placed their trust in us by becoming an equity investor in our company" said Peter Bradley, Chief Executive Officer of Javelin.
ITOCHU said: "We are excited to expand our relationship with Javelin due to its exceptional team of professionals and successful track record. We look forward to participating in Javelin's long-term success as a minority equity owner to collaborate with them, in particular around the green business."
Paul Hastings LLP served as legal advisor to Javelin. Herbert Smith Freehills LLP served as legal advisor to ITOCHU.
About Javelin
Founded in 2015, Javelin Global Commodities is a global commodities physical trading, logistics, operations, financing and investment group headquartered in the United Kingdom, engaged across multiple commodities sectors, including power generation fuel commodities, steel raw material, oil & gas, metals, steel scrap, hydrocarbons, freight, softs, and renewables. Javelin has grown to become one of the leading commodity traders in the world and operates across 100 countries and six continents with over 160 employees serving the energy, steel and industrial sectors, with offices in London, Bangalore, Calgary, Melbourne, New York and Singapore.
About ITOCHU
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 160 years. With approximately 90 bases in 61 countries, ITOCHU is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas.
