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Reuters
Reuters
Business

Japan's Idemitsu acquires Australia's Trinity Petroleum Services

A signboard of Idemitsu Kosan Co. is seen at its gas station in Tokyo, Japan, October 2, 2017. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - - Japan's Idemitsu Kosan Co <5019.T> says its subsidiary has acquired 100 percent of the outstanding shares of an independent Australian petroleum products distributor Trinity Petroleum Services Pty Ltd

- A company spokeswoman says cannot comment on acquisition price due to agreement with Trinity

- The move comes as the Tokyo-based firm is enhancing the petroleum products business in growing overseas markets centred on the Pacific Rim, it adds

- Cairns-based Trinity Petroleum engages in the wholesale business delivering petroleum products to its customers using its fleet of tank trucks and in the retail business through 18 service stations, Idemitsu Kosan says

(Reporting by Osamu Tsukimori)

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