Noble Group Puts Final Amount from Sale of US Gas and Power Unit at US$168m

Source Press
Company Noble EnergyMercuria Energy Group Limited 
Tags Asset Deals, Deals, Renewable Energy, Power, Refining & Marketing Activities
Date January 08, 2018

(The Business Times) COMMODITY trader Noble Group on Monday said the final amount paid by Mercuria Energy America Inc for its indirect wholly-owned subsidiary, Noble Americas Gas & Power Corp (NAGP), stands at US$168 million, higher than the US$102 million announced earlier.

In October, Noble said it had sold NAGP to Mercuria for US$102 million, less than the US$261 million expected earlier because of changes in working capital and amounts placed in escrow.

In a filing with the Singapore Exchange on Monday, Noble said that following the closing of the disposal on Sept 29, 2017, the final consideration was higher at approximately US$168 million after being "subject to adjustment according to the terms and conditions of the stock purchase agreement."

This final amount includes US$20 million which remains deposited with the escrow agent.

Source: EvaluateEnergy® ©2018 EvaluateEnergy Ltd