Noble Group Jettisons ‘Crown Jewel’ in Quest to Raise Funds

Updated on
  • Shareholders vote at SGM to approve sale of U.S. energy unit
  • Chairman Elman says return to profit may take one, two years

Richard Elman.

Photographer: Jerome Favre/Bloomberg

Noble Group Ltd. executives mapped out a road to recovery for the battered commodity trader as shareholders voted to approve the sale of a U.S. energy unit to raise funds, with Chairman Richard Elman describing the asset as one of the company’s crown jewels. Its shares rose.

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