Exxon to sell part of Tonen stake for about $3.9 bln: sources
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Exxon to sell part of Tonen stake for about $3.9 bln: sources

www.reuters.com   | 28.01.2012.

TOKYO (Reuters) - Exxon Mobil plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, sources told Reuters.
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Exxon Mobil will retain about a 20 percent stake in TonenGeneral but the deal will mark a de facto retreat from the world's third-largest economy by the U.S. oil giant, which is focusing its resources on emerging markets and development of natural resources. ($1 = 76.7350 Japanese yen)

(Reporting by Taro Fuse and Emoto Emi; Writing by Kaori Kaneko; Editing by Chris Gallagher)


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