French Total to Acquire 100% Stake in ExxonMobil Vietnam
Total Raffinage Marketing S.A. of France has signed a deal to buy a 100% stake in ExxonMobil Vietnam Holding Company Limited from Australian ExxonMobil Corp.
ExxonMobil will transfer its lubricant blending plant located in the southern province of Dong Nai and a lubricant distribution network across Vietnam to Total.
Once the transfer completed, Total will top the list of lubricant traders in Vietnam.
Total has explored and produced oil and gas as well as distributed liquefied petroleum gas (LPG) and lubricant in the Southeast Asian country since 1980.
The French firm currently has seven subsidiaries with over 400 employees in Vietnam. (Vietnam Economic Times)
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