Erex Eyes Enetrade Acquisition Amid Unprofitable Deals

Tokyo-based electricity and renewable energy firm Erex Co. is in advanced discussions to take over Enetrade Inc., a trader which is grappling with the fallout from unprofitable deals, according to a document seen by Bloomberg. Erex has submitted a legally-binding offer to sponsor the firm, with negotiations in final stages, according to the document dated Jan. 14. Once talks are finalized, Enetrade will enter an agreement to transfer its business to Erex, expected around end of March, the document said.