More News
ENERGY & OFFSHORE | Staff Reporter, Singapore

New buyer to acquire Noble's US-based ethanol producer for $20.96m

Mercuria Investments beat Zeeland Farm's base price of $16.83m.

Noble Group Limited (NGL) found a new buyer for its ethanol producer Noble Americas South Bend Ethanol (NASBE) in Mercuria Investments US, which gave a price of $20.96m (US$15.5m).

According to an announcement, Mercuria's buying price is US$3m higher than Zeeland Farm Services's $16.83m (US$12.5m).

The new deal between Mercuria and NGL have the same terms as the one with Zeeland save for the deletion of the provision relating to the go-shop period and an increase in the base consideration.

NGL is expected to terminate its deal with Zeeland on 11 December 2017.

Upon the anticipated termination of the Zeeland deal, NGL is required to pay Zeeland a termination fee of $2.7m (US$2m).

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.