Toshiba unloads Texas LNG business in sale to Total

Troubled conglomerate to book $858m loss on deal as it turns focus to growth areas

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The logo of oil giant Total is seen at La Defense business and financial district in Courbevoie, near Paris. The French company's purchase of the LNG unit would remove a major risk for Toshiba. © Reuters

YUICHI SHIGA, Nikkei staff writer

TOKYO -- Toshiba will sell its liquefied natural gas business in Texas to French energy giant Total, securing a buyer for the risky asset after a previous deal with a Chinese company collapsed, the troubled Japanese company announced on Saturday.

Nikkei had reported the deal earlier in the day.

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