Noble Group assumes full control of biofuel distributor subsidiary

Noble Group has taken full ownership of previously 50%-held subsidiary Noble Mansfield Renewable Energy for $2.47 million (€2.2m).

Noble, a commodity trader, said that the acquisition was financed with internal resources, The Business Times reports.

The book value and net tangible asset of Noble Mansfield was about S$3.3 million on 30 August, 2016, Noble said.

Noble Mansfield is a distributor of ethanol and biodiesel.

Noble shares closed at 15.5 Singapore cents on Monday, up by 0.3 Singapore cent, or 2%, before the announcement.