Total SA (NYSE: TOT) Denies it's Selling LNG Unit

Brian Hicks

Written By Brian Hicks

Posted April 28, 2014

French oil company Total SA says it is not selling its natural gas company Totalgaz, despite reports to the contrary.

French news outlet Les Echos reported on Monday that Total had received approximately ten bids for the subsidiary, including French petroleum storage company Rubis. First Reserve, Pamplona, Antagaz, and others.

“There is no sale process of Totalgaz at the moment,” a Total spokesman said, “If this process happens, it will be done respectfully of (union) representatives and industrial logic.”

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