Noble

Noble: According to Australian Financial Review reports which cited unindentified sources closed to Noble, Noble is willing to sell most of its 64.5% stake to Yanzhou Coal, reducing odds of competing bids.

Source added that Noble is said to consider retaining cornerstone stake and wants marketing & trading rights over coal output from new entity, while Analysts say shareholders may get cash and shares in Australian unit Yancoal, with Yanzhou to control 60%-70% of the new co.

Noble could remain suspended until the close of trading on 22nd Dec, after Gloucester Coal request that ASX extend the Co’s suspension till 22nd Dec, in connection with a potential merger proposal with YanZhou Coal.