SINGAPORE (Yosefardi) – Noble Group confirms that its share disposal of its Papua asset to Wilmar Group has yet to complete and will continue to hold all of its shares.
“The conditions for the disposal of 53.74% interest in Noble Plantations Pte Ltd to Newbloom Pte Ltd, wholly owned subsidiary of Wilmar, have not been satisfied as at the long stop date. Accordingly, Noble will continue to hold all interest in Noble Plantations,” the company said on its press statement.
Both companies has in February 2013 sealed a share purchase deal to form a Papua focused, strategic joint venture in order to develop and operate palm projects to produce and sell crude palm oil and its by-products.
The company presently owns a majority interest in PT Henrison Inti Persada, which in turn owns 22,953 ha of land for palm production in Papua.
By Hatman Bintang
