HO CHI MINH CITY -- A petrol station operator under state-owned Vietnam National Oil and Gas Group has abandoned its search for a strategic foreign investor and will likely turn instead to multiple buyers in a proposed 45% stake sale.
With the domestic stock market slumping, PetroVietnam Oil has presented its parent company with a revised divestment plan to raise at least $300 million, according to Cao Hoai Duong, a general director at the gas station operator, which is known as PV Oil.
