FX.co ★ Noble Group sells Noble Americas Energy Solutions to Calpine Corporation

Noble Group, the supplier of agricultural products, energy products, metals and industrial equipment, has struck a deal with the Calpine Corporation energy company on selling its Noble Americas Energy Solutions unit, Bloomberg reports. The unit is based in the US. The cost of the deal is $1.05 billion. Noble Group said that selling the US unit would help to improve financial condition of the company which has been undermined by increasing losses, declining commodity prices and falling liquidity. In June international S&P Global Ratings agency downgraded the company’s rating from B+ to BB- with negative outlook for the second time in a half-year period. On May 30 Noble Group announced resignation of Chief Executive Officer Yusuf Alireza and the plans to sell Noble Americas Energy Solutions. Additionally, a report published in February showed that the company had annual losses for the first time in 28 years.