Singapore-listed commodities firm Noble Group requested this morning a halt in the trading of its shares following media reports that China’s Yancoal is in talks to buy Noble’s Australian-listed subsidiary Gloucester Coal, reported Reuters.
“Noble Group notes certain press articles in Singapore and Australia in respect of Gloucester Coal Ltd,” Noble said in a filing to the Singapore Exchange.
“Noble will inform the market if there are any developments and will request a resumption of trading at the appropriate time.”
Chinese-controlled Yancoal Australia is in talks to buy Gloucester Coal to create Australia’s top independent coal miner, three sources said on Tuesday, as strong Asian demand drives a boom in coal deals.
Key to the deal will be Gloucester’s 64% owner, Hong Kong-based Noble Group.
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