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Business

Itochu dumps shale gas stake for $1

TOKYO -- Itochu has walked out on the shale gas development business, selling off its 25% interest in Samson Resources for $1 back to the U.S. company.

     The Japanese trading house took a stake in Samson back in 2011, spending 78 billion yen (about $1 billion at the time) as part of a joint acquisition with partners including an American investment fund.

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