Noble buys remaining 50% stake in a biodiesel distributor

The deal has a total consideration of $3.4m.

Singapore global supply chain manager Noble Group decided to take full control of its 50%-owned subsidiary Noble Mansfield Renewable Energy by snapping up the latter’s remaining stakes.

According to an announcement the Group posted on the Singapore Exchange, Noble acquired the additional 50% equity interest in ethanol and biodiesel distributor Noble Mansfield for an aggregate consideration of $3.4 million (US$2.47 million).

The deal was inked by Noble's subsidiary, Noble Americas Corp (NAC).

"Following the acquisition, Noble Mansfield became a wholly-owned subsidiary of NAC; and Noble Mansfield’s wholly-owned subsidiary namely, C&N Ethanol Marketing, LLC, became an indirect subsidiary of NAC," the group said, noting that the acquisition will be financed with internal resources.