China’s state-owned Sinochem is in preliminary talks to pick up a substantial equity stake in the commodity giant Noble Group, according to inside sources. There is no information, however, on how much stake Sinochem is looking to buy in the commodity firm.
China’s state-owned Sinochem is in preliminary talks to pick up a substantial equity stake in the commodity giant Noble Group, according to inside sources. There is no information, however, on how much stake Sinochem is looking to buy in the commodity firm.
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Noble confirmed the equity sale in its latest stock exchange filing as it mentioned that it was in « discussions regarding a possible strategic investment. » However, it did not name the concerned party and also cautioned that there was « no certainty as to whether the transaction may be concluded. »
Analysts say that Sinochem, which is China’s largest fertilizer trader , expects to become a globally recognized energy trader by picking up a stake in the Noble Group.
