KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is reviving discussions on a potential exit from South African fuel retailer business Engen, people familiar with the matter said.

       The company is studying options for its 74% stake in Engen, including a sale or initial public offering, according to the people.

       It has recently been fielding preliminary interest from potential buyers, the people said, asking not to be identified because the information is private.

       Engen had 40.8 billion rand (US$2.9bil or RM12.07bil) of total assets at the end of 2019, according to its annual report. Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said. — Bloomberg