SINGAPORE (Reuters) – Struggling commodities trader Noble Group Ltd is having constructive talks with creditors to restructure its debt and is hopeful of a deal in the near future, the companys chairman said.
Various talks have been going for a couple of months. They have been constructive, Paul Brough, a restructuring specialist who was appointed Nobles chairman this year, told a shareholders meeting in Singapore on Thursday.
Noble was once a global commodity trader with ambitions to rival the likes of Glencore and Vitol [VITOLV.UL]. Now it has shrunk to its Asian roots as a hard commodities player after a crisis-wracked three years forced it to slash jobs and sell its key assets – some at losses – to cut debt.
Founded in 1986 by Richar…
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