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Noble Buys Fertilizer Plant Interest
HONG KONG - Mar 5/07 - SNS -- Noble Group is entering into the tripartite joint venture to form a new fertilizer blending and marketing company in Brazil.
Partners in the venture include Peninsula, a Brazilian fertilizer blender, MAS Trade Holding, a Dutch holding company, and Noble.
Peninsula's current activity is to blend fertilizers and market other fertilizer raw materials to grain and agricultural producers in the states of Paraná, São Paulo, Mato Grosso do Sul and Mato Grosso. Tha aim is to expoand operations into Paraguay, Argentina and Uruguay.
The investment by Noble in the joint venture is approximately US$4,334,000 and was determined on a willing-buyer willing-seller basis taking into account the net assets of the joint venture of US$7,000,000.
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