Reported 9 months ago
Citadel, led by Ken Griffin, is purchasing Energy Grid Corp., a Tokyo-based company specializing in trading and selling power products, to expand its commodities business in Japan. The acquisition of Energy Grid is expected to be finalized in the third quarter, with the company founded by a former Goldman Sachs trader offering risk management products for Japanese companies in the electricity market. Citadel's focus on commodity trading has been lucrative, with its commodity-trading business generating over $4 billion last year. The deal reflects Citadel's renewed presence and expansion plans in Japan after re-establishing operations in the country post the global financial crisis.
Source: YAHOO