Sinochem no longer pursuing stake in troubled Noble Group: sources
Move comes at a time when Noble is set to negotiate crucial rollover of US$2b credit facility
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Hong Kong
CHINA'S state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters.
When it held talks with Noble earlier this year to buy a stake, Sinochem's thinking, sources have told Reuters, was that a deal could help the oil, gas and petrochemicals producer to become a globally active energy trader.
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