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Noble Group buys Delaware firm for US$10 million

NOBLE Group, via two wholly owned subsidiaries, has acquired San Juan Fuels, a Delaware limited-liability firm, for US$10 million.

Noble Americas Corp and Noble Americas Gas and Power Corp acquired 200 membership units in the issued unit capital of San Juan Fuels, LLC comprising its entire issued unit capital last Saturday, said the firm in an announcement.

The purchase was entirely funded by the firm's internal cash resources.

Based on the unaudited financial statements of San Juan Fuels for the period ended Sept 30, 2014, the book value attributable to the acquired membership units was US$1.46 million while the net tangible asset value was US$2.57 million.