CIC pays $850 million for stake in Singapore's Noble Group

Sovereign wealth fund China Investment Corporation buys a 14.9% stake in the commodities firm.

China's $200 billion sovereign wealth fund China Investment Corporation CIC will shell out $850 million for a 14.9% stake in Singapore-listed commodities trader Noble Group.

CIC will be issued 438 million new Noble shares representing a 12.91% stake. The newly issued shares will provide the Noble Group with additional capital to pursue strategic investments in key agricultural markets globally, said Noble in a written statement. 

Simultaneously CIC will buy 135 million shares from trusts associated...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS