Noble Group sells power, gas unit to Mercuria for $168 MM
1/8/2018
SINGAPORE (Reuters) Troubled Asian commodity merchant Noble Group said on Monday the final price for the sale of its American power and natural gas unit to rival trading house Mercuria was $168 MM.This is higher than the $102 MM announced earlier. This final amount includes $20 MM which remains deposited with the escrow agent.
The original amount for the sale was to be around $250 million.
"The amount paid by the buyer... was subject to adjustment determined in accordance with the terms and conditions of the stock purchase agreement," Noble Group said in a statement.
(Reporting by Henning Gloystein; Editing by Muralikumar Anantharaman)
Sign up to Receive Our Newsletter
- ExxonMobil halts 1-Bft3d blue hydrogen project in Texas
- Aramco and Yokogawa commission multiple autonomous control AI agents at Fadhili gas plant
- Ukraine will resume gas imports via Transbalkan route in November
- Mitsubishi to inject $260 MM into Brunei LNG project
- Freeport LNG (U.S.) on track to take in more natgas on Thursday after unit outage
Comments