Unless otherwise defined, all terms used herein shall bear the same meaning as in the Announcement (as defined below) and the circular to shareholders dated 18 October 2016 issued by Noble Group Limited ('NGL') relating to the Proposed Disposal (as defined below).
1. INTRODUCTION
NGL refers to the announcement dated 10 October 2016 (the 'Announcement') made in connection with (i) the proposed sale by NGL's indirect wholly-owned subsidiary, Noble Americas Gas & Power Corp. ('NAGP' and together with NGL, the 'Sellers') of all of the issued and outstanding membership interests of Noble Americas Energy Solutions LLC ('NES') to Calpine Energy Services Holdco II LLC (the 'Company Buyer') and (ii) the proposed assignment by NGL of the rights and the post-closing obligations under an ISDA 2002 Master Agreement dated 1 January 2016 and related Master Confirmation dated 1 August 2016 entered into between NGL and NES to Calpine Energy Financial Holdings LLC (the 'Contract Buyer' and together with the Company Buyer, the 'Buyers') (the 'Proposed Disposal'), in accordance with the terms and conditions of the purchase agreement dated 7 October 2016 between NES, the Sellers and the Buyers (the 'Purchase Agreement').
2. CLOSING
NGL wishes to announce that the Proposed Disposal was completed on 1 December 2016. At the Closing, the amount paid by the Buyers to the Sellers was US$ 1,156,404,000, comprising US$800 million plus the Estimated Closing Date Net Working Capital of US$356,404,000 and minus US$10 million which amount was deposited by the Company Buyer with an escrow agent, pending the final determination of the Closing Date Net Working Capital and the Closing Date Indebtedness. The Estimated Closing Date Indebtedness was nil.
Noble Group Limited
1 December 2016
About Noble Group
Noble Group (SGX: N21) manages a portfolio of global supply chains covering a range of industrial and energy products. Noble facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. For more information For more information please visit www.thisisnoble.com.
For further details please contact:
Ms. Chelsea Phua
Bell Pottinger
Tel: +65 6333 3449
Email: [email protected]
Ms. Candice Adam
Argentus PR
Tel: +44 20 7397 2915
Email: [email protected]
Mr. Martin Debelle
Citadel-MAGNUS
Tel: +61 2 8234 0100
Email: [email protected]