Noble, Barclays Work on $1 Billion Tamar Stake Sale
- Noble seeking to spin off stake into SPC, pay dividend
- Sale talks value Tamar gas field up to 20% more than last year
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Noble Energy Inc. is working with Barclays Plc on the sale of a 7.5 percent stake in the offshore Tamar natural gas field, according to people with knowledge of the matter.
The company and its advisers -- which include another unidentified bank -- are approaching institutional investors for the sale, which may be worth between $1 billion and $1.1 billion, the people said, asking not to be identified as the talks aren’t public.