Marubeni participates in Management of Westlake

Jul. 01. 2011
Marubeni Corporation

Marubeni Corporation and Marubeni America Corporation (collectively “Marubeni”) have decided that it will undertake 100% of the private placement of new shares issued by Westlake Services, LLC ( ”Westlake”) for US$250 million and will participate in the management of Westlake.

Marubeni acquired a 20% equity position (the right to vote). Marubeni will send one full-time Director and one part-time Director and will contribute to further strengthen Westlake’s profit- base.

Westlake finances automobiles to consumer representatives in the United States. Westlake is the largest independent non-bank lender in the automotive retail finance business in the United States. With this investment, Marubeni will become a long-term partner to support and accelerate Westlake’s growth and profits.

Westlake Outline

Location : Los Angeles California
Foundation : August 1988
President  : Ian Anderson
Capital   : US$465 million (after Marubeni’s participation)
Shareholders : Family of founder and Employee Stock Ownership Plan: 79.97%
    Marubeni Group: 20.03%
Business  : Automotive Finance
Past Result  : 88,000 installment receivables financed in 2010