Deals
Noble Group to Buy Two Brazil Mills for $950 Million
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Noble Group Ltd., the commodities firm backed by China’s sovereign fund, agreed to buy sugar mills in Brazil for $950 million, including debt, to increase its production of the sweetener by 81 percent.
Noble will acquire the Catanduva and Potirendaba mills for $350 million in cash and $600 million in assumed debt from Cerradinho Acucar, Etanol & Energia SA, the Hong Kong-based company said in a regulatory filing today. The deal will increase Noble’s annual sugar production capacity to 1.34 million metric tons from 740,000 tons now, it said.