Japan's JX, TonenGeneral to finalize merger deal on Wednesday: reports

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JX Holdings President Yukio Uchida will head the new company which would likely be named JXTG Holdings, while TonenGeneral Sekiyu President Jun Mutoh will become vice president, the Nikkei business daily and Yomiuri newspaper said.

JX Holdings Chairman Yasushi Kimura will be chairman of the new company, the Nikkei added.

Last December, the two firms agreed to merge in April 2017 with a plan to streamline refinery operations to create a dominant player in a refining market that is in long-term decline. The merged firm will control more than half of domestic gasoline sales.

(Reporting by Osamu Tsukimori; Editing by Richard Pullin)