Noble Group says shareholders to receive 20 pct of equity in restructured company
Embattled commodity trader Noble Group
Noble, which has been struggling to secure shareholder approval to restructure its $3.5 billion debt, had asked for a trading halt on Monday pending an announcement.
Abu Dhabi-based Goldilocks Investment Co Ltd, which holds 8.1 percent of Noble, had been resisting the plan which proposed halving Noble`s debt in return for handing over 70 percent of equity to senior creditors.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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