| SINGAPORE
Singapore-listed commodities trader Noble Group agreed to sell its North American energy distribution unit to U.S. firm Calpine Corp for $1.05 billion, moving a step closer to completing a restructuring to raise $2 billion to help cut debt.
The sale of Noble Americas Energy Solutions (NAES) includes repayment of working capital of about $248 million, Noble said in a statement. Noble’s shares rose nearly 7 percent in early trading on Monday.
The move comes as the Hong Kong-based trader aims to rebuild investor confidence after a brutal commodities downturn coincided with a questioning of its accounts in early 2015 by Iceberg Research, sparking a collapse in its share price a…
Read the full article at: http://www.reuters.com/article/us-noble-m-a-calpine-idUSKCN12910C
