Toshiba gets notice from China's ENN to scrap US LNG deal

[TOKYO] Toshiba Corp said on Thursday it had received a notice from China's ENN Ecological Holdings Co that it would scrap a deal to transfer Toshiba's US liquefied natural gas (LNG) business to ENN.

Toshiba said it might need to review a loss estimate related to its LNG business due to be booked in the year ended March 31.

The company in November agreed to pay ENN more than US$800 million to take over its LNG business in the United States as part of a plan to shed money-losing assets.

Toshiba said earlier this month that the deal had been delayed because it had not yet received approval from a US panel that monitors foreign investments.

REUTERS