Noble responds to SGX queries on sale of gas and power unit
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet
ING unveils 2.5 billion euros buyback as profit beats estimates
Prosper Cap halts operations at UK hotel after fire breaks out