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Vitol to acquire Noble Group's oil liquids business

Sale is expected to close by the end of the year.



Storage tank facility. Image credit: Vitol


Updated on 23 Oct 2017 11:31 GMT

Vitol US Holding Co. (Vitol) has agreed to acquire Noble Group's subsidiary Noble Americas Corporation (Noble Americas).

Noble's global oil liquids business is primarily conducted through Noble Americas. Noble Americas is a supplier of industrial and energy products. The company trades large physical volumes of crude and refined oil products via ship, barge, pipeline, truck and rail. It also has blending and wholesale capabilities with long term leases on liquid storage facilities.

The sale is subject to, amongst others, approval by group shareholders, expiration of the Hart Scott-Rodino waiting period, certain other required regulatory approvals and lender approval under Noble Americas' senior secured borrowing base revolving credit facility.

The sale is expected to close by the end of 2017 and prior to the January 15, 2018, maturity date of the aforementioned revolving credit facility.

Vitol Group also owns bunker supplier V-Marine Fuels, is joint (50 percent) owner of bunker firm Cockett, and is a shareholder in Varo Energy, which owns inland marine fuel specialist Reinplus Fiwado Bunker.






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