Noble soars on advanced talks to sell Agri stake

Singapore

SHARES in Noble Group surged on Wednesday as the commodity trading group confirmed that it was in advanced talks to sell off its remaining stake in Noble Agri.

Media reports have named China's Cofco, which already has a 51 per cent stake, as the potential purchaser. The deal, if successful, would be positive for Noble - if it is structured to take into account an expected improvement in Noble Agri's performance next year, said analysts.

Noble Group on Tuesday night confirmed media reports that it was in discussions to sell its 49 per cent stake in Noble Agri as well as other strategic transactions, though it added that no definitive or legally binding documents have been signed, and that…