ENERGY & OFFSHORE | Staff Reporter, Singapore

Noble to sell US-based ethanol producer

The base asking price is at $16.83m.

Noble Group is selling its US-based ethanol producer Noble Americas South Bend Ethanol LLC (NASBE) for $16.83m (US$12.5m).

According to an announcement, the gross consideration price would be $22.89m (US$17m), if the $1.21m (US$0.9m) net working capital and $4.85m (US$3.6m) inventory value were included.

NASBE owns and operates an ethanol production plant in South Bend, Indiana in the US NASBE is included in Noble's Energy segment.

The book value of NASBE is approximately $108.25m (US$80.4m) and the net tangible asset value is $108.25m (US$80.4m). Net loss is approximately $12.12m (US$9m).

Zeeland Farm Services, Inc polished the purchase deal with Noble on 24 November 2017.

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