Noble, once Asia’s biggest commodity trader, has warned that if the restructuring fails, it would begin insolvency proceedings, likely in Britain.
For AirAsia, the deal marks another move to monetize its assets as Asia’s biggest budget airline seeks to transform itself into an asset-light, digitally focused firm.
Noble, once Asia’s top commodity trader, has seen its market value all but wiped out from $6 billion in early 2015.
Noble has seen its market value all but wiped out from $6 billion in February 2015 after its accounting was questioned by Iceberg Research.
The firm has poached David Luboff, CEO of Macquarie Group’s Asia Infrastructure Fund, as its new head of Asia Pacific Infrastructure.
Noble’s next chairman will be tasked with steering the company into profitability as it transforms itself into an Asian-centric trader mainly dealing with coal, freight and liquefied natural gas.
The sale of a minority stake in San Miguel Food and Beverage is part of a restructuring plan announced last year.
VC funding in the first eight months of 2018 stood at $3.16b, compared with $2.72b last year.
The investment is part of the roughly $1 billion that Grab is seeking to complete an ongoing $3-billion funding round.
Axiata is in talks to team up with PE firms and other companies as it considers options to launch its own offer for a bigger stake in M1.