Trading in Noble Group’s shares was halted on Friday at the request of the troubled commodities trading house, ahead of the announcement of a major transaction.
The company asked for an immediate trading halt on Friday afternoon “pending announcement of a major transaction.”
The Singapore-listed company, which has been beset by questions about its debts and inability to generate cash, said in early October that rival Mercuria had paid $102m for its US gas and power business and deposited a further $83m in an escrow account. At a total of $185m, the deal came in far below the $261m Noble had estimated it would be paid when it asked shareholders to approve the sale.
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