Noble Group said that it had agreed to place 573 million shares for a total of approximately USD 850 million to China Investment Corporation at a price of SGD 2.1137 per share.

Noble said in a statement that the placement consists of 438,000,000 newly issued shares by Singapore listed Noble and 135,000,000 shares from trusts associated with the interests of Noble founder and CEO Richard Elman.

The placement is subject to approval of the respective boards of directors of Noble Group and CIC and final legal documentation.

(Sourced from www.reuters.com)