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Total said to explore sale of TotalGaz unit for ~$1B

  • Total (TOT) reportedly is exploring a sale of its TotalGaz liquefied petroleum gas marketing unit, and has engaged a pair of banks to look for buyers.
  • TOT has set its sights on bringing in €700M ($1.04B) from the sale, with the sales process set to kick off next month, according to French newspaper Les Echos citing unidentified sources.
  • TOT +0.6% premarket.
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