Vitol Extends Deal Spree With Purchase of Fallen Rival Noble (2)

Vitol Group has agreed to buy the last remaining piece of fallen Asian commodity trader Noble, as the energy trading giant recycles its blockbuster profits to go on an acquisition spree.

Vitol will pay $208.9 million on a cash-free, debt-free basis, Noble Resources said in a statement on Friday. The deal is expected to close this year, Vitol said earlier.

The move will expand Vitol’s thermal coal business and also give it a major position in the niche market supplying coke to steelmakers. Noble describes itself as having a “dominant share of the global seaborne metallurgical coke trade,” while Vitol ...