Total SA plans to buy Exxon Mobil Corp.’s lubricant business in Vietnam, Thoi Bao Kinh Te Vietnam newspaper reported, citing an agreement between the companies.
The purchase includes a lubricant plant in the southern Vietnamese province of Dong Nai and Exxon’s base oil distribution network throughout the country, the newspaper said.
Lyn Toh, Total’s spokeswoman in Singapore, confirmed the plan. She declined to provide details.
Karen Wong, an Exxon spokeswoman in Singapore, said in an e-mail that the sale is a “confidential matter” between the companies and the sale doesn’t affect Exxon’s other businesses in Vietnam.