You are here

Noble Group completes divestment of Panacore vessels for US$95m

NOBLE Group has completed the divestment of its four Panacore vessels for US$95 million, it said in a filing to the Singapore Exchange on Tuesday.

This will allow the group to retire about US$63 million in debt, and receive about US$32 million in net proceeds. The aggregate book value of the Panacore vessels is approximately US$94 million and the gain on disposal is around US$1.4 million. 

It completed the sale of two of the vessels, Ocean Forte and Ocean Ambition, on Tuesday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes