Noble Group Surges as U.S. Energy Unit Sold to Calpine Corp.

Updated on
  • Sale of Noble Americas Energy expected to close in December
  • Commodity trader plans to cut debt, fund growth opportunities

Noble Group Ltd., the embattled commodity trader backed by China’s sovereign-wealth fund, agreed to sell its U.S. energy unit to Calpine Corp. for $800 million plus working capital, saying the deal largely completes a drive to raise $2 billion. The shares jumped in Singapore.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.