Noble ups stake in ASX-listed East Energy Resources in satisfaction of debt

Singapore

COMMODITIES trader Noble Group on Monday said that its indirect wholly owned subsidiary Maylion has acquired an additional 52.5 per cent shareholding interest in coal exploration and development firm East Energy Resources (EER).

EER, incorporated in Australia, is listed on the Australia Securities Exchange (ASX). Following the transaction, Maylion's stake in EER will increase to 93.4 per cent from 40.9 per cent. Thus, EER will cease to be an associated company of Noble, and become its subsidiary instead.