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Toshiba to resume sale process of U.S. LNG business

Christian Fernsby |
Toshiba said it has decided to scrap a plan to sell its U.S. LNG business to China’s ENN Ecological Holdings and to resume a process to dispose of the business with an aim to complete the transfer by March 2020.

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Toshiba also said it would no longer book the planned group loss of about 93 billion yen ($831 million) related to the deal i

the financial year that ended on March 31, 2019.

Toshiba said last week that China’s ENN had scrapped an agreement to take over the LNG business due to a failure to get approvals from shareholders and a U.S. panel that monitors foreign investments.

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