Toshiba exits US LNG business

Source: China National Chemical News September 09, 2019

A few days ago, Toshiba completed its withdrawal from the US liquefied natural gas (LNG) business. The company said it has reached an M&A agreement with Total Singapore Natural Gas Power Company, a subsidiary of Total in Singapore, for all shares in Toshiba American LNG.

In June of this year, Toshiba and Total signed an agreement to transfer all assets related to the LNG business of Toshiba Group to Total. Toshiba said that the transfer has been completed. After the completion of the transfer, Toshiba American LNG Company has been separated from the Toshiba Group. Toshiba will include approximately 90 billion yen ($846.9 million) in the consolidated financial statements of the 2019 fiscal year (ending March 31, 2020) Related expenses.