Noble to sell US ethanol producer for US$12.5m plus adjustments
Singapore
EMBATTLED commodities trader Noble Group is selling its US-based ethanol-producing business for US$12.5 million, plus adjustments for working capital, inventory and debt.
If the deal was closed on Oct 1, the gross consideration would have been US$17 million, assuming net working capital of US$0.9 million, inventory value of US$3.6 million and no debt as at Sept 30 for the business, which is called North Americas South Bend Ethanol (NASBE).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Thomson Reuters lifts 2024 forecast on first quarter revenue result
DBS customers unable to log into digibank, PayLah! on Thursday
US: Wall St opens higher after Fed leaves interest rates alone
Japan’s Sumitomo Corp net profit down 32% on Madagascar one-off loss
Moody's tops quarterly profit estimates on strong product demand
Hong Kong regulator brings insider trading charges against Segantii and its founder