Major trader Mitsubishi Corp. said Thursday it will sell its 15 percent stake in Malaysia LNG Sendirian Berhad, a liquefied natural gas manufacturer, to Petroliam Nasional Berhad (PETRONAS), Malaysia’s government-owned oil company.
The sale is planned for Monday and is in line with the signing of a merger contract between PETRONAS and Malaysia LNG, the company said. PETRONAS currently owns 65 percent of Malaysia LNG.
Mitsubishi expects around 5.5 billion yen from the sale of its 15 percent share, which it acquired in 1978.
It said it does not expect the sale to have an effect on its group net profit forecast of 85 billion yen for the 2002 business year, which ends March 31.
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