The Limited Times

Now you can see non-English news...

TotalEnergies pulls out of Russian gas giant Novatek at the cost of $3.7 billion in impairment

2022-12-09T09:03:26.427Z

TotalEnergies will no longer include in its results the 19.4% it holds in Novatek. The French group TotalEnergies announced on Friday that it would withdraw its directors from the Russian Novatek and no longer recognize in its results the 19.4% it holds in the gas giant, consequently providing for an asset impairment of 3.7 billion dollars in fourth trimester. Read alsoTotalEnergies in court for its controversial megaproject in Uganda and Tanzania " The Board of Directors of T



The French group TotalEnergies announced on Friday that it would withdraw its directors from the Russian Novatek and no longer recognize in its results the 19.4% it holds in the gas giant, consequently providing for an asset impairment of 3.7 billion dollars in fourth trimester.

Read alsoTotalEnergies in court for its controversial megaproject in Uganda and Tanzania

"

The Board of Directors of TotalEnergies has decided to withdraw the Company's representatives from the Board of Directors of PAO Novatek with immediate effect

" and the "

19.4% stake held by TotalEnergies in Novatek will no longer be consolidated in the accounts de la Compagnie

,” TotalEnergies said in a statement, with the decision resulting in “

an impairment of approximately $3.7 billion

.”

Source: lefigaro

All business articles on 2022-12-09

You may like

Business 2023-02-02T18:36:46.908Z

Trends 24h

Latest

© Communities 2019 - Privacy