PTT restructuring oil marketing unit

PTT PLC of Thailand will transfer its oil business unit to PTT Retail Business Co., which will be renamed PTT Oil & Retail Business Co.

PTT PLC of Thailand will transfer its oil business unit to PTT Retail Business Co., which will be renamed PTT Oil & Retail Business Co.

The unit handles retail and commercial marketing and distribution of oil products.

The state-owned company plans an initial public offering of the combined business, retaining at least 45% ownership.

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