Noble Group, the global supply chain manager of industrial, energy, and agricultural products, has purchased a further soybean processing facility in mainland China. The plant, located in Nantong, Jiangsu, will be purchased from the Liquidation Committee of Nantong Baogang Oil & Fat Development.


The purchase will be by way of an asset transfer of the plant and its facilities.


The aggregate consideration to be paid by Noble for the acquisition is approximately US$29.4mn. The consideration will be funded from Noble’s internal cash resources and bank borrowings. The amount of consideration was determined on a willing-buyer, willing-seller basis, taking into consideration the fair value of the assets.


The plants will be supplied by Noble’s soybean origination teams in South America and will complement Noble’s crop financing, trade financing, logistic and distribution businesses, both in South America and worldwide.