Noble responds to SGX queries on sale of gas and power unit
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Nisha Ramchandani
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Singapore
CHANGES in working capital and amounts placed in escrow led commodity trader Noble Group to receive less from the sale of its gas and power unit than had earlier been indicated, the company said on Monday in response to queries from the Singapore Exchange (SGX).
Noble Group said on Oct 2 that it had sold Noble Americas Gas & Power Corp (NAGP) to Mercuria Energy America Inc (MEC) and received US$102 million. On Aug 31, Noble told its shareholders that it would have received US$261 million in total consideration if the deal had been struck on June 30, 2017.
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