Toshiba's plans to sell its US liquefied natural gas (LNG) business have stalled again, after Chinese buyer ENN Ecological Holdings announced it would halt its acquisition, citing "considerable uncertainty in proceeding". A previous bid to sell the LNG plant to US firm Tellurian also broke down. Toshiba said it will reevaluate its earnings, after predicting 8% rise in consolidated net profit of JPY870bn ($7.83bn) for the year ending March 2019. The company faces losses of up to JPY1tn if it fails to sell any LNG, as well as the business.
Toshiba's plans to sell its US liquefied natural gas (LNG) business have stalled again, after Chinese buyer ENN Ecological Holdings announced it would halt its acquisition, citing "considerable uncertainty in proceeding". A previous bid to sell the LNG plant to US firm Tellurian also broke down. Toshiba said it will reevaluate its earnings, after predicting an estimated 8% rise in consolidated net profit of JPY870bn ($7.83bn) for the year ending March 2019. The company faces losses of up to JPY1tn if it fails to sell any LNG, as well as the business.