Noble's sugar daddy is the perfect Valentine's match
Sydney
TUESDAY was Valentine's Day, so it came as no surprise that even the ugliest ducklings in the corporate world were hoping to find love. Noble Group Ltd, whose shares were down 93 per cent from their 2011 peak as of Monday, is in talks over a strategic investment, the Hong Kong-based commodity trader said on Tuesday. The potential suitor is Chinese chemicals giant Sinochem Group, people familiar with the talks earlier told Javier Blas of Bloomberg News.
It's no compliment to say that the two businesses appear to be made for each other. Noble and state-owned Sinochem, along with its listed subsidiary Sinochem International Corp, operate on gossamer-thin margins on a good day - and lately, there haven't been many good days.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention