Exxon Sells Stake In Malaysian Cos. For $610M

Law360, New York (August 17, 2011, 6:32 PM EDT) -- Exxon Mobil Corp. on Wednesday announced the sale of its interest in three downstream petroleum businesses in Malaysia to San Miguel Corp. for $610 million, which will boost its place in the region's oil and gas sector.

The energy giant said the deal between its affiliates and San Miguel won't impact its upstream business in Malaysia, where it is involved in petroleum and natural gas exploration and production through Exxon Mobil Exploration and Production Malaysia Inc. Exxon's activities in Malaysia date back to 1893.

“Today’s announcement...
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