Noble takes full control of ethanol unit for US$2.47m
NOBLE Group has taken full ownership of previously 50 per cent-held subsidiary Noble Mansfield Renewable Energy for US$2.47 million, according to an announcement on Monday after the market closed.
Noble, a commodity trader, said that the acquisition was financed with internal resources. The book value and net tangible asset of Noble Mansfield was about US$3.3 million as at Aug 30, 2016, Noble said.
Noble Mansfield is a distributor of ethanol and biodiesel.
Noble shares closed at 15.5 Singapore cents on Monday, up by 0.3 Singapore cent, or 2 per cent, before the announcement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Starbucks set for talks with unionised US stores
Goldman Sachs shares rise to notch first record high since 2021
Tesla to accelerate launch of cheaper cars after sales miss
IBM is in advanced talks to acquire software provider HashiCorp
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand