SINGAPORE (Reuters) – Singapore-listed Noble Group Ltd (NOBG.SI) faces a make-or-break shareholders meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency.
FILE PHOTO: Noble Group founder Richard Elman at the company’s Hong Kong offices/File Photo
The company, once a global commodity trader with ambitions to rival Glencore (GLEN.L) or Vitol, has shrunk to an Asian-centric business focused on coal and freight trading after it slashed hundreds of jobs and sold prized assets to cut debt.
Noble, whose market value has been nearly wiped out from $6 billion in February 2015, is expected to win the required simple majority of voters in attendance at the meeti…
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