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Toshiba in turmoil

Toshiba's LNG sell-off its final piece of housecleaning

Foray into unfamiliar business exposed conglomerate to $9bn risk

Toshiba's LNG concession in Texas is up for sale.

TOKYO -- Toshiba has begun talks with several suitors to sell its U.S. liquefied natural gas business, marking the last stage of offloading the loss-making assets the troubled conglomerate was carrying.

The Japanese company recently invited tenders, garnering responses from 10 companies, a source familiar with the matter told Nikkei. There is speculation that Jera, a joint venture between utilities Tokyo Electric Power Co. Holdings and Chubu Electric Power, may be among the bidders. American gas producer Tellurian and Chinese state-affiliated energy company PetroChina are also thought to have raised their hands.

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