Noble Group shares crash 8% after deal announcement

SGX issued a trading activity query.

Noble Group announced early today that it had closed a deal with COFCO to establish an agribusiness joint venture, after which its shares plunged to $1.29 in early trade.

In a media release, Noble announced that there will be an unconditional disposal of 51% in Noble Agri Limited in connection with the proposed sale by Noble Agri International Limited to COFCO.

The deal, first announced in April, has been completed.

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