21 August 2019

Commodity trader Noble in venture talks, WSJ says

Commodity trader  Noble Group Ltd. is in talks with China’s state-owned Cofco Corp. and private-equity firm Hopu Investment Management Co. Ltd. about forming a joint venture with its agribusiness operations, the Wall Street Journal reported Tuesday, citing a person familiar with the matter. Singapore-listed Noble confirmed it was in talks with a consortium for its agribusiness division, which has been hit by falling commodity prices, but didn’t identify the parties involved, the report said. The talks involve an alliance, rather than an acquisition, and Cofco is likely to take a bigger share of the venture than Hopu, the sources were quoted as saying.

– Contact HKEJ at [email protected]



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