Companies & Finance

Vietnam to reduce government stake in PV Gas

The Vietnamese government expects to reduce its ownership in PetroVietnam Gas by 30% between 2018 and 2019.
By Staff reporter 11 September 2017 0 27525

The Vietnamese government expects to reduce its ownership in PetroVietnam Gas (PV Gas) by 30% between 2018 and 2019, according to the Nikkei Asian Review.

The move forms part of a major restructuring of PetroVietnam, the parent company of PV Gas, which is at the centre of a major corruption investigation. The sale would reduce the government’s share in PV Gas from 95% to 65%.

PV Gas has shown good performance in recent months, with net profit for the first half of 2017 up...