Noble Group completes divestment of Panacore vessels for US$95m
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Nisha Ramchandani
Published Tue, Sep 18, 2018 · 12:51 PM
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.
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