ExxonMobil to Cut Stake in Japan Downstream Operations

摘要

ExxonMobil says it will cut its stake in the company's TonenGeneral Sekiyu (Tokyo) refining affiliate from 50.5%, to 22% as part of a restructuring of ExxonMobil's downstream operations in Japan. TonenGeneral Sekiyu will acquire a 99% stake in ExxonMobil's downstream operations in Japan for ￥302 billion ($3.9 billion) as part of the deal. ExxonMobil will remain the largest shareholder in TonenGeneral Sekiyu after cutting its stake to 22%. The other 78% of TonenGeneral Sekiyu will be listed on the stock exchange.