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Sempra Energy (SRE.N) and The Royal Bank of Scotland (RBS.L) agreed to sell the retail commodity marketing operations of their joint venture to Noble Group (NOBG.SI) for US$317 million ($422.7 million) in cash.
The deal for Sempra Energy Solutions follows Sempra and RBS’ July sale of its global metals and oil business, as well as its European natural gas and power business for US$1.6 billion to JP Morgan Chase & Co.
The deal for Sempra Energy Solutions follows Sempra and RBS’ July sale of its global metals and oil business, as well as its European natural gas and power business for US$1.6 billion to JP Morgan Chase & Co.
Noble Group will also assume US$265 million in debt associated with Sempra Energy Solutions under the deal, which is expected to close in the fourth quarter.
Sempra and RBS said they were in advanced talks for the sale of the last remaining assets of the joint venture, the North American wholesale power and natural gas business.
