Tuesday, December 21, 2010


Noble: To purchase a vehicle (Newco) owning 2 sugar mills from Cerradinho for US$950m (US$600m in net tangible liabilities of Newco) which will be funded by Noble's existing resources. Acquisition will propel co to top tier of sugar cane milling cos, increasing potential crushing capacity to 17.5m tonnes…

Mills come with partnership agreements with Cerradinho for 15 yrs. Net profit of Newco is approx $65m. News was out on 17 Dec although not officially announced. Noble’s share price was down 1.5% at $2.04 y’day and resistance expected at $2.14 wk high.

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