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Noble shareholders green-light US$750m Agri stake sale
It was approved by 90% of the vote.
Noble Group’s shareholders have approved the company’s proposal to sell its remaining 49% stake in Noble Agri for US$750 million.
At a Special General Meeting (SGM) held Thursday, Noble said that the plan was approved by 90% of the vote.
Noble’s stake will be sold to Viva Trade Investments, an indirect wholly-owned subsidiary of Chinese state-owned enterprise (SOE) COFCO Corporation.
The deal was first revealed in December and is expected to be completed by the end of February.
Upon completion, the transaction will generate USD750 million in cash and remove the group's contingent debt guarantee related to Noble Agri.
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