SINGAPORE - Shares of Noble Group rose over 10 percent in early trade after Reuters reported that Chinese food giant COFCO is in advanced talks to take full ownership of the Singapore-listed firm's agribusiness.
At 0105 GMT, Noble shares were trading at S$0.430, up 10.3 percent after hitting a high of S$0.435, the highest since Dec. 2.
Reuters reported on Tuesday that COFCO was in talks to buy the remaining 49 percent of Singapore-listed Noble's agribusiness for about $700-$750 million, having already acquired a 51 percent stake in April 2014 for $1.5 billion. (Reporting by Saeed Azhar; Editing by Stephen Coates)
