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Toshiba runs into hurdle as it tries to sell Texas LNG asset

US agency's scrutiny keeps deal with Chinese company from closing in March

Toshiba had wanted to contain losses associated with a Texas LNG company to the recently ended fiscal year.   © Reuters

TOKYO -- Toshiba's planned sale of its liquefied natural gas business to a Chinese company has been delayed until sometime this month or later, the Japanese conglomerate said on Monday, revealing a complication as the group restructures its sprawling business operations.

Under the original plan, the transaction was expected to be completed by the end of March. Toshiba now says it is facing a delay in securing approval from the Committee on Foreign Investment in the United States, a federal agency that examines the national security implications of foreign investments in the U.S.

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