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19

Noble Group Paves Way for Debt Deal as Goldilocks Backs Plan

By Tony Seruga

Existing shareholders to get 20% stake in restructured company
Trader will now move to ‘final stages’ of revamp, Brough says

Embattled commodity trader Noble Group Ltd. reached a deal with dissident shareholder Goldilocks Investment Co. over its planned $3.5 billion debt restructuring, agreeing to boost the holding in the new company that stock investors stand to get. The shares surged.

Existing shareholders will now receive 20 percent of the revised company, up from 15 percent, according to an exchange statement on Wednesday. In addition, the two parties will drop all claims against one another, with Noble Group paying Goldilocks as much as $5 million to cover its legal costs…

Noble Group Paves Way for Debt Deal as Goldilocks Backs Plan

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