Hong Kong commodity trader Noble Group has completed the sale of Noble Americas Gas & Power Corp. to Mercuria Energy America for $185m, substantially less than planned when the deal was originally announced in July.
Noble has previously said it would “explore strategic alliances in Asia” with Mercuria after establishing some initial links with the Swiss trader’s Asian affiliates.
Singapore-listed Noble has been under enormous financial pressure for the last three years, and is also working on the sale its Global Oil Liquids business which it expects to complete by the end of the year.
