TonenGeneral Sekiyu agreed to acquire Exxon Mobil Corp. Japanse division for $3.9bn.TonenGeneral is going to acquire 99% ofExxon Mobil Yugen Kaisha unit which manufactures and sells fuel. The deal will be financed by cash and bank loans. Analysts expectTonenGeneral to seek strategic partner to cover purchasing costs. Japanese refiners are struggling with surging operating costs as government forces them to implement technologies which get more fuel from oil.
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