Sinochem no longer pursuing stake in troubled Noble Group: sources

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.

But Sinochem has become cautious about linking up with Noble after the trader …