Noble forms investment holding firm in British Virgin Islands

The firm will hold Noble’s assets after the restructuring.

Noble Group established a wholly-owned subsidiary, Noble Intermediate Hold Co Limited, in the British Virgin Islands which principal business is investment holding.

According to an announcement, the subsidiary is intended to be Intermediate Hold Co, being the intermediate holding company holding New Noble’s interests in its assets and subsidiaries (through Asset Co and Trading Hold Co) following the completion of the proposed restructuring.

The issued and paid-up share capital and the net tangible asset value and book value of Noble Intermediate Hold Co Limited is US$100.

After securing shareholder approval, Noble Group can now enter the final stages of its restructuring and start parallel schemes of arrangement in England and Bermuda.