Toshiba gets notice from China\'s ENN to scrap U.S. LNG deal

Toshiba gets notice from China's ENN to scrap U.S. LNG deal

Toshiba said it might need to review a loss estimate related to its LNG business due to be booked in the year ended March 31REUTERS  |  April 11, 2019, 16:46 IST
Toshiba gets notice from China's ENN to scrap U.S. 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 U.S. 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.

Toshiba in November agreed to pay ENN more than $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 U.S. panel that monitors foreign investments.