Noble Group Ltd (NOBG.SI)
26 May 2017
May 26 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:
LONDON/SAO PAULO Chinese food commodities trader COFCO [CNCOF.UL] is overhauling its operations in Brazil, including a management reshuffle, as it restructures its Nidera Sementes Ltda business following accounting irregularities reported last year, according to company documents and sources.
SYDNEY Yancoal Australia said it was not concerned "at this stage" over the financial strength of its No.2 shareholder Noble Group, and that its acquisition of Rio Tinto's coal mines did not hinge on funding from the commodities trader.
SINGAPORE Noble Group's troubles worsened after S&P warned of a risk the struggling commodity trader won't pay its debt and as sources told Reuters a potential investor backed out, triggering a one-third fall in its shares and a dip in its bonds.
* Market value shrivels to $400 mln from $6 bln in Feb 2015 (Recasts; adds comment from analyst in paragraphs 8-10)
SINGAPORE, May 23 Shares in Noble Group Ltd tumbled 22 percent on Tuesday after S&P its lowered long-term corporate credit rating on the Singapore-listed commodity trader, citing continuing weak cash flows and profitability.
HONG KONG/SINGAPORE China's state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters.
* Noble said this month it was in talks with strategic investors
HONG KONG/SINGAPORE, May 22 China's state-owned Sinochem is no longer pursuing an investment in Noble Group Ltd due to concerns over the finances and business outlook of the loss-making commodity trader, three sources familiar with the matter told Reuters.
SINGAPORE/HONG KONG Singapore-listed Noble Group faces a major challenge over the next few weeks as it negotiates a rollover of credit facilities against the backdrop of a shock quarterly loss that pummeled market confidence in the commodity trader.