 "Noble Group sells North America energy unit to Calpine Corp")
Struggling Noble Group said on Monday it will sell its North America energy unit Noble Americas Energy Solutions to Calpine Corp.
The consideration for the divestiture consists of $800 million plus the repayment to Noble of Noble Americas Energy Solutions (NAES) working capital at closing.
The Singapore-listed company said its North America energy unit will continue to accrue to Noble up until closing of the transaction.
"The sale of NAES substantially completes the $2 billion capital raising initiative that we announced in June", said Noble's Co-CEOs, Jeff Frase and Will Randall.
It is expected that the transaction will close in December 2016.