Total Sells Stake in Fosmax LNG to Elengy for About $260 Million
February 06 2020 - 3:56AM
Dow Jones News
By Giulia Petroni
Total SA (FP.FR) said Thursday that it sold its 27.5% stake in
Fosmax LNG to liquefied natural gas terminal operator Elengy for
about $260 million.
Fosmax LNG is the operator of the Fos Cavaou LNG terminal in
France, according to the oil giant. Elengy, which is part of Engie
SA (ENGI.FR), is Fosmax LNG's majority shareholder.
"This sale of non-strategic midstream infrastructure asset will
contribute to Total's objective of divesting $5 billion in
2019-20," Total said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 06, 2020 03:41 ET (08:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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