ExxonMobil sells properties, organizes

12/20/1999
BP Amoco PLC and ExxonMobil Corp. have agreed to dissolve their European fuels and lubricants joint venture and split the assets in line with their equity stakes.To satisfy the European Commission's conditions for the merger of Exxon Corp. and Mobil Corp., Mobil's joint venture with BP Amoco is being dissolved, and some of its European fuels business is being sold. ExxonMobil also has begun selling US assets to satisfy the US Federal Trade Commission (OGJ, Dec. 6, 1999, p. 30).Meanwhile, BP Amoco and ARCO have reached a deal with Alaska regarding their proposal to combine operations there.ExxonMobil structureExxonMobil is restructuring to operate as 11 separate global businesses. Ba...
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