ExxonMobil transfers lubricants business in Vietnam

ExxonMobil Corp. announced that it has completed transferring its stake in ExxonMobil Vietnam Holding Co. Ltd. to Total Raffinage Marketing, under the French group Total SA. With effect from December 12, Total assumed full management control of the affiliate, which is now known as Lubricants Vietnam Holding Ltd. While the deal is limited to only the sale of ExxonMobil’s lubricants and specialties business in Vietnam, Total may continue to blend and sell certain ExxonMobil-branded lubricants in Vietnam for up to two years, according to the agreement. (December 15, 2009)