Noble to buy US energy firm for US$317 mln

SINGAPORE - Singapore-listed Hong Kong commodities firm Noble Group said on Monday it has agreed to acquire US-based energy retailer Sempra Energy Solutions for US$317 million.

Noble will also assume about US$265 million in debt after the proposed purchase of Sempra Energy Solutions from Sempra Energy and Royal Bank of Scotland.

Based in San Diego, Sempra Energy Solutions is the North American retail power, energy and electricity marketing arm of RBS Sempra Commodities.

The firm has approximately 200 employees and 1,400 customers, and its largest markets are Texas, Pennsylvania, New Jersey and Maryland. -- REUTERS


Earnings. Purely for illustrative purposes only and assuming that the Acquisition had been completed on 1 January 2009, the proforma financial effects on the consolidated earnings of the

Group for FY2009 are as follows:

Before the Acquisition

EPS (United States cents) 10.62
Diluted EPS (United States cents) 10.37

After the Acquisition

EPS (United States cents) 12.22

Diluted EPS (United States cents) 11.94

Noble invests in palm oil origination in Indonesia

Noble Group (SGX: N21), a global supplier of agricultural, energy, metals and mineral products, has acquired a 51% stake in PT. Henrison Inti Persada ("Company"). The Company intends to develop approximately 32,500 ha of land for palm oil production in Sorong Regency, West Papua Province, Indonesia.

The transaction is Noble’s first project in the oil palm sector and establishes a strong platform for the Group to expand and increase its investments in this area in the future. The investment enables Noble to expand its edible oil supply chain and secure a continuous flow of crude palm oil.

The Company is to be registered as a member of the Roundtable on Sustainable Palm Oil (“RSPO”). The RSPO are an organisation whose membership is made up of, amongst others, palm growers, palm oil producers, retailers, investors in the sector and environmental/conservation NGOs. The RSPO promotes the production of palm oil in a sustainable manner based on economic, social and environmental criteria.

“We focus our investments on areas that are synergistic with our businesses both in terms of product and geography,” said Noble Group Executive Chairman Richard Elman. “This move into palm oil plantations will complement our global agriculture and energy businesses. Our operating experience in Indonesia should prove to be an asset in helping us manage this and future projects.” He added, “With increasing convergence between agriculture and energy, this investment is a clean fit for the Group’s diversified portfolio.”

Noble buys 25% stake in Mexico port terminal

Noble Group said on Thursday that it has bought a 25 per cent stake in Terminales Portuarias del Pacifico (TPP).

TPP has been awarded a tender to develop a multicommodity terminal facility at Lazaro Cardenas Port, on the west coast of Mexico.

Construction of the two-phase terminal is set to commence by May 1 2010, with completion expected in 2011. Phase 2 of construction is planned for 2017.

Noble, which is currently supplying thermal coal to CFE at the Lazaro Cardenas Port, said the terminal provides it strategic strength and flexibility in its deliveries to CFE.

Macarthur Coal update on CITIC voting intentions

Further to its update earlier in relation to the advice received from POSCO and ArcelorMittal in relation to their respective voting intentions at the Macarthur Shareholders Meeting scheduled for April 19th 2010, Macarthur advises that it has received advice from its largest shareholder, CITIC Group as follows

In response to your request, CITIC Group advises that based on analysis of all information currently available to it, CITIC Group is supportive of the rationale for the Noble/Gloucester transactions. Further, CITIC Group appreciates and supports the efforts made by Macarthur’s Board and management to grow the company and to build it into a leading independent coal company in Australia.

However, no decision has been made by CITIC Group as to how it will vote on the resolution at the EGM scheduled for April 19th 2010. CITIC Group will continue to carefully monitor and analyze all developments ahead of the EGM and, as you would expect, CITIC Group expressly reserves the right to vote its 22.4% shareholding at the EGM in any manner that it determines in its absolute discretion.”

$5.2b offered for Macarthur Coal

US miner Peabody ups the ante for world's biggest exporter of pulverised coal


05:55 AM Apr 16, 2010SYDNEY - United States firm Peabody Energy yesterday raised its takeover offer for Australia's Macarthur Coal to A$4.07 billion ($5.2 billion) from a previous A$3.56 billion in an attempt to deliver the knockout blow in a fierce takeover battle for the world's biggest exporter of pulverised coal.

The bid may be high enough to force Macarthur to reconsider its proposed takeover of fellow Australian miner Gloucester Coal and associated transactions with Singapore-listed Noble Group.

It could also flush out a rival bid for Macarthur from Anglo-Swiss mining giant Xstrata, which Macarthur said had approached its major shareholders but has yet to launch a formal offer.

Peabody's latest offer of A$16 in cash for each Macarthur share beats its previous offer of A$14 and trumps a rival bid from Australia's New Hope, which is offering either its own shares or a cash alternative of A$14.50 a share capped at A$950 million.

Peabody's readiness to raise its offer shows companies are becoming increasingly willing to risk placing big bets on an Asian-led recovery in demand for commodities, including pulverised coal.

Two people closely watching the takeover battle told Dow Jones Newswires the fresh bid from Peabody looked like a game-changer that would likely force Macarthur to again delay a shareholder vote on the Gloucester transaction due on Monday. Macarthur has rejected previous offers as too low.

Macarthur's board is to hold a meeting today to consider the proposal. It urged shareholders to take no action on Peabody's bid.

Peabody has warned its proposal would lapse if Macarthur goes ahead with the shareholder vote scheduled for next Monday or if the Gloucester and Noble Group deals proceed, but a Macarthur spokeswoman wouldn't comment on whether Monday's meeting will be postponed.

-------------------------------------------------------------------

Createwealth8888:

The market is never short of Jaws.

Noble opens grain and oilseed complex in Argentina

13 April 2010 Hong Kong


Noble Group (SGX: N21), a leader in managing the global supply chain of agricultural, energy, metals and other natural resources, is pleased to announce the start up of its new Oilseed Processing Complex, signifying its continued investment and expansion in Argentina. The complex, built adjacent to the Timbúes Port Grain Terminal, also establishes Noble’s first South American oilseed processing facility and expands the Group’s capabilities.

Since 2006, the Timbúes Port Grain Terminal has served as a key operational platform on the Paraná River, occupying 231 hectares and 2,100 metres of waterfront, making it the largest in Noble’s network of owned and operated facilities in South America.

The Oilseed Processing Complex has a present crushing capacity of approximately 3 million metric tonnes of soybeans per year and processes soybeans into high-protein soybean meal, pellets and soybean oil for export. In addition, it has a loading capacity of 5 million metric tonnes per annum. The facility is expected to enhance operating margins and increase efficiency of supply to Noble’s global customer base.

“At over 200 hectares, the Timbúes Port Terminal and Oilseed Processing Complex, is our largest facility in South America, with about half of the site still available for future expansion,” said Noble Group Chairman, Richard Elman. He added, “The world has a growing appetite and we are well positioned to supply oil, meal, corn and grains globally.”

Argentina is one of the world’s lowest cost soybean producers and has seen its crop triple since the mid 1990's to a present record 55 million metric tonnes. Argentina is also the world’s largest soybean meal and soybean oil exporter.


As an alternative to burning natural gas or fuel oil to power the Timbúes Complex, Noble has installed a state-of-the-art biomass boiler. Powered by locally sourced wood chips, it will satisfy the plant’s electrical and steam power needs, while minimizing the impact on the environment.

This announcement is not material for the purpose of the Singapore Exchange Limited Listing Rules.

New Hope Bids for Macarthur, Battling Peabody, Noble

Why? Why? Why?

Why are people so scare of Noble becoming  Macarthur’s largest shareholder?


----------------------------------------------------------------------------------------------
By Rebecca Keenan


April 9 (Bloomberg) -- New Hope Corp. Ltd., an Australian coal producer, offered A$3.71 billion ($3.4 billion) in shares to buy Macarthur Coal Ltd., higher than a rival bid from Peabody Energy Corp.

New Hope offered 2.7 of its shares for every 1 of Macarthur’s, valuing Macarthur at A$14.58 per share, the Ipswich, Queensland-based company said today in a statement. Peabody raised its initial offer to A$14 a share this week. Macarthur closed yesterday at A$14.36.

New Hope joins Noble Group Ltd. in battling Peabody for Macarthur after shipments of coal to China last year tripled and prices doubled. China’s imports of coal used to make steel are forecast to rise 5.6 percent to 38 million metric tons this year, according to a Macquarie Group Ltd. forecast.

Both the New Hope and Peabody bids are conditional on Macarthur dropping a planned all-share takeover of Noble’s Gloucester Coal Ltd. that would see Noble become Macarthur’s largest shareholder.

Combining New Hope and Macarthur would create a coal company with a market capitalization of more than A$8 billion, New Hope said. It is being advised by Pitt Capital Partners.

Noble - CIC as new Investor.

SEOUL/SINGAPORE - The Noble Group said on Tuesday it had agreed to place 573 million shares for a total of approximately US$850 million to China Investment Corporation ('CIC'), at a price of S$2.1137 per share