ITOCHU, Mercuria invest in Japan's duty-free technology provider

Wei Ying-chiao, an executive of Ting Hsin International Group, acquired a 17.274% stake in Taipei Financial Center Corp. (TFCC), operator of Taipei 101, from Itochu. Wei's company, Cheng Mei Capital, will join other shareholders, including government-invested banks, in TFCC. Itochu had previously reduced its stake in TFCC.

The EU Commission approved Dentsu Group and ITOCHU's acquisition of Dentsu Soken. The deal involves enterprise services and software. The Commission found no competition concerns due to the joint venture's minimal EU activities. The case was reviewed under a simplified procedure.

Itochu and Tokyo Century plan to jointly acquire Aviation Capital Group. The deal involves purchasing shares, giving them joint control. Itochu is a diversified trading company with aircraft leasing operations.

ITOCHU Corporation is acquiring a 50% stake in TC Skyward Aviation U.S., which owns aircraft leasing firm Aviation Capital Group, for approximately US$1.946 billion. The deal includes a joint management structure with Tokyo Century Corporation. Clifford Chance is advising ITOCHU on the transaction.

Itochu has acquired full ownership of We Sell Cellular, a U.S. used smartphone distributor, to capitalize on demand for affordable devices amid rising prices. The Japanese trading company aims to expand in the U.S. market.

Itochu is offering to take Dentsu Soken private at 2,880 yen per share. The deal is subject to regulatory approvals and would result in a delisting. The share price gap reflects merger-arbitrage spread and uncertainty around the deal's completion.