Noble to sell N. Amer­i­can power busi­ness for US$1b

The Sun (Malaysia) - - SUNBIZ -

SIN­GA­PORE: Be­lea­guered Asian com­modi­ties trader Noble Group has agreed to sell its North Amer­i­can en­ergy busi­ness to US power gen­er­a­tor Calpine Corp for a to­tal of US$1.05 bil­lion (RM4.36 bil­lion).

The Sin­ga­pore-listed, Hong Kong-based firm said yes­ter­day the sale brings it closer to com­plet­ing an ini­tia­tive to raise US$2.0 bil­lion in cap­i­tal as it strength­ens its fi­nances to turn the com­pany around.

In a state­ment to the Sin­ga­pore Ex­change, Noble said it sold its Noble Amer­i­cas En­ergy So­lu­tions sub­sidiary to Calpine for US$800 mil­lion, plus US$248 mil­lion as re­pay­ment for the US unit’s work­ing cap­i­tal. – AFP

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