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Total takes on Toshiba's U.S. LNG business and gets $800 million

Christian Fernsby |
Total will take over Toshiba’s U.S. liquefied natural gas business and get $800 million cash from the Japanese group as part of the deal.

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The French energy major is paying $15 million for the shares in the Texan assets, the firms said. Toshiba will also pay Total $815 million to take over all the contracts linked to the business, Total added.

Toshiba said it expected to complete the transaction by the March-end of the current financial year, following regulatory approval, and to book a 93 billion yen (US$859 million) loss related to the deal.

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