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.