Exxon Mobil (XOM) has entered into exclusive discussions to sell its entire 82.89% interest in French unit Esso SAF, including a key refinery, to North Atlantic France SAS for roughly $350M, Bloomberg’s Mitchell Ferman reports. If finalized, the deal would seriously shrink Exxon’s presence in France, particularly after the company said last year it would shutter part of its petrochemical operations in the country, the author notes.
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