Vitol to acquire Noble Americas
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
Noble Group Ltd (NGL) and its indirect wholly-owned subsidiaries, Noble Resources UK Holdings Ltd (NRUK) and Noble Americas Corp. (NAC) have entered into a stock purchase agreement (SPA) with Vitol US Holding Co. and Euromin Inc., in connection with the proposed sale by NRUK of all of the issued and outstanding capital stock of NAC to Vitol.
Noble Group’s global oil liquids business is primarily conducted through NAC.
NAC trades large physical volumes of crude and refined oil products via ship, barge, pipeline, truck and rail. It also has blending and wholesale capabilities with long-term leases on liquid storage facilities.
Upon completion of the proposed disposal, NGL will no longer hold any sale shares in NAC and NAC will cease to be a subsidiary of NGL. In addition, certain subsidiaries of NAC will also cease to be subsidiaries of NGL.
Read the article online at: https://www.hydrocarbonengineering.com/refining/23102017/vitol-to-acquire-noble-americas/
You might also like
Low US distillate consumption reflects slow economic activity and biofuel substitution
The EIA reports that US distillate consumption so far this year is lower than usual because of warm winter weather, reduced manufacturing activity, and continued substitution of biofuels in place of petroleum distillate on the US West Coast (PADD 5).