Very usefull links


News links




Dow Jones

Oil price



Views and News





Vitol completed acquisition of Noble Americas  from Noble Group Ltd.




By Petroleumworld

Petroleumworld 01 16 2018

Vitol US Holding Co. has completed its acquisition of Noble Americas Corp. from Noble Group Ltd. (SGX:CGP). here the press release by the company on the sale.


Unless otherwise defined, all terms used herein shall bear the same meaning as in the Announcements (as defined below) and the circular to shareholders dated 29 November 2017 (the “Circular”) issued by Noble Group Limited (“NGL”) relating to the Proposed Disposal (as defined below).


Noble Group Limited (NGL) refers to the announcements dated 23 October 2017, 14 November 2017 and 27 November 2017 (the “Announcements”) made in connection with the proposed sale by NRUK of all the issued and outstanding capital stock of NAC to the Buyer, in accordance with the terms and conditions of the SPA (the “Proposed Disposal”).


NGL wishes to announce that the Proposed Disposal was completed on 12 January 2018.

At the Closing, the estimated Consideration was approximately US$400 million, comprising Estimated Closing Date Base Consideration of approximately US$214 million, plus Estimated Closing Date Net Working Capital of approximately US$388 million, minus Estimated Closing Date Indebtedness of US$202 million (as further described in the Circular). At the Closing, the amount paid by the Buyer to NRUK was approximately US$272 million. In addition, the Buyer has deposited with an escrow agent US$122 million, comprising the General Escrow Amount of US$107 million and the Tank Escrow Amount of US$15 million (as further described in the Circular). The amount to be paid out from the escrow account shall be subject to adjustment based on an amount (which may be a positive or negative amount) to be determined following the Closing in accordance with the terms and conditions of the SPA. In addition, the amount paid by the Buyer includes a deduction of approximately US$6 million in respect of transaction costs (including US$4 million which is payable by NRUK as a contribution towards the cost of certain insurance policies obtained by the Buyer in respect of the SPA (as further described in the Circular)). A further announcement will be made upon the final determination of the Consideration (as further described in the Circular).

At the Closing, the Buyer caused the repayment of the Estimated Closing Date Indebtedness to the intended beneficiaries, including the discharge of Indebtedness under the NAC secured borrowing base facility. The NAC secured borrowing base facility has subsequently been retired.

About Noble Group

Noble Group (SGX: CGP) 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 please visit

Source: Noble Group Press Release

Report from Petroleumworld
01 16 2017

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels






Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.