Total preparing for sale or listing of US$4.6b rubber unit Hutchinson: sources
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[FRANKFURT] Europe's second-biggest oil company Total is preparing for the sale or listing of its rubber and isolation unit Hutchinson that could be worth up to 4 billion euros (US$4.58 billion), sources told Reuters.
Total has asked potential advisors to pitch for the business with a mandate to be awarded soon, four sources familiar with the matter said, speaking on condition of anonymity as the matter is private.
Total is under pressure from shareholders to improve its cash flow and raise dividends as it counts the cost of the collapse in oil prices.
A Total spokeswoman declined to comment.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
