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MISC denies looking to sell tanker arm AET

MISC denies looking to sell tanker arm AET
Malaysia’s MISC has denied it is looking to sell its tanker arm AET.

In a statement to Bursa Malaysia, following reports that it was in talks to sell AET to Teekay, the company said: “In response to recent market speculation, MISC confirms that petroleum shipping is a core element of its current and ongoing business and, as such, has no plans to divest itself of its petroleum tanker subsidiary.”

MISC acquired AET in 2003 from Neptune Orient Lines (NOL).