(Bloomberg) -- Embattled commodity trader Noble Group Ltd. reached a deal with dissident shareholder Goldilocks Investment Co. over its planned $3.5 billion debt restructuring, agreeing to boost the holding in the new company that stock investors stand to get.
Existing shareholders will receive 20 percent of the revised company, up from 15 percent, according to a statement to the Singapore exchange on Wednesday. In addition, Goldilocks will get to nominate a director to the board, and the two parties will drop all legal claims against one another.
“By reaching agreement with Goldilocks, the company is now able to move into the final stages of its restructuring,” Chairman Paul Brough said.
--With assistance from Andrea Tan.
To contact the reporter on this story: Krystal Chia in Singapore at kchia48@bloomberg.net
To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, Jake Lloyd-Smith, James Poole
©2018 Bloomberg L.P.
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