Noble sets final price for sale of American ethanol unit at US$18.1m

The company logo of Noble Group displayed at its office in Hong Kong.
The company logo of Noble Group displayed at its office in Hong Kong.PHOTO: REUTERS

SINGAPORE - Noble Group on Tuesday (Jan 2) announced the completion of the disposal of its US-based ethanol producer, Noble Americas South Bend Ethanol (Nasbe) to Mercuria Investments for a final consideration of US$18.1 million.

Mercuria had paid US$18.5 million for Nasbe on Dec 12, but there was a subsequent adjustment that reduced the considerration by about US$0.4 million in accordance with the sale and purchase agreement, Noble announced in a filing with the Singapore Exchange on Tuesday.

Shares of Noble, a commodities trader, last changed hands at S$0.20 on Dec 29, 201