New Times Energy Corporation Limited (HKG:0166) has signed a letter of intent in relation to a possible acquisition of further 9.25% interest in two oil and gas exploration concessions in Argentina. New Times Energy acquired 60% interest in the two concessions in 2009, and completed workover program of two existing wells in the concessions. Commercial production of the two wells is expected to commence in the second half of 2012.
Japan’s oldest insurance group Tokio Marine Holdings, Inc. (TYO:8766) will acquire 100% of the outstanding shares of Delphi Financial Group, Inc. (NYSE:DFG), a U.S. life and property & casualty insurance group for US$2,664 million. The Acquisition will allow Tokio Marine to establish another business operation in the U.S. and to realize significant profit expansion.
Takeda Pharmaceutical Company Limited (TYO:4502) has decided to integrate two wholly-owned subsidiaries in the U.S., Takeda San Diego, Inc. ("TSD") and Takeda San Francisco, Inc. ("TSF") on January 1, 2012, to form a new company Takeda California, Inc.. The integration will combine the excellent platform technology of TSD and expertise of therapeutic antibody research accumulated by TSF to increase the research and development capability of new drug discovery.