By Chelsea Naso ( February 4, 2015, 3:50 PM EST) -- Total, Europe's second-biggest oil company, is preparing to either sell or float its rubber insulation unit Hutchinson in a transaction that could be worth up to €4 billion ($4.6 billion), Reuters reported Wednesday, citing people familiar with the matter. France-based Total, which bought a majority stake in Hutchinson in 1974, has reportedly asked potential advisers to pitch for the business with a mandate to be awarded soon. Hutchinson was founded as a rubber manufacturer for shoes in 1853, but today makes sealing systems and insulation for cars, trains and planes. The decision to part ways with Hutchinson comes as Total is under pressure form shareholders to improve its cash flow and protect dividends amid falling oil prices....
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