Singapore: Vitol close to acquiring Noble’s oil liquids business

The world’s largest oil trader Vitol Group is nearing a deal to buy Noble Group’s global oil liquids business, which analysts had valued at about $1 billion, three people familiar with the matter said on Friday.

One of the sources said an announcement of the deal could come as early as Monday.

Shares of Noble Group were halted in the afternoon, pending the “announcement of a major transaction,” the company said.

Vitol and an external spokeswoman for Noble declined to comment on the Reuters story.

Reuters reported in August that trading firms including Mercuria Group and Vitol were among the suitors for the oil unit.

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