JERA, the Japanese energy giant, has agreed to buy the coal and freight business of French energy group EDF Trading.
The two companies said discussions will continue towards a final agreement which is expected to be reached in December 2016. No financial terms were disclosed.
JERA and EDF Trading have had a long standing coal optimisation and trading joint venture that was founded in 2008
“This new agreement strengthens our relationship further by affirming the intention to combine EDF Trading’s coal and freight expertise in the Atlantic Basin with JERA’s footprint in Asia and the Pacific creating a truly global coal and freight trading business,” the two companies said in a joint statement.
