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Noble Group Shareholders Still at Risk -- Market Talk

15 Mar 2018 4:56 am

0456 GMT - Noble looks to be threatening to leave its shareholders with even less if they don't back the embattled commodities trader's debt-restructuring plan. The firm has told equityholders that it will transfer its main interests--such as its coal-trading and freight businesses--to the UK and appoint an administrator if they scupper the debt deal. Such a move could force the transfer of Noble's assets to a new entity, possibly leaving current shareholders with very little. Under the proposed deal, they would own 10% of the reorganized company. This as there's a Tuesday deadline for a bond repayment. Shares pull back 7.7% today, cutting the week's jump to 17%. (gaurav.raghuvanshi@wsj.com)

(END) Dow Jones Newswires

March 15, 2018 00:56 ET (04:56 GMT)

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