Oct 10 (Reuters) - Struggling Noble Group said on Monday it will sell its North America energy unit Noble Americas Energy Solutions to Calpine Corp.
The consideration for the divestiture consists of $800 million plus the repayment to Noble of Noble Americas Energy Solutions (NAES) working capital at closing.
The Singapore-listed company said its North America energy unit will continue to accrue to Noble up until closing of the transaction.
“The sale of NAES substantially completes the $2 billion capital raising initiative that we announced in June”, said Noble’s Co-CEOs, Jeff Frase and Will Randall.
It is expected that the transaction will close in December 2016.
Reporting By Shashwat Pradhan in Bengaluru; Editing by Alistair Bell