(Jan 22): Cedar Holdings Group, a Chinese conglomerate, has expressed interest in buying control of commodities trader Noble Group, according to people with knowledge of the matter.

Cedar has made an informal approach to some major Noble Group shareholders, although no formal talks have started, the people said, asking not to be identified because the information is confidential. Noble shares surged as much as 37% to 28 cents, the highest since December, before trading at 27 cents at 1.24 pm, prompting a query from Singapore Exchange.

A Cedar Holdings representative declined to comment; an external spokeswoman for Noble Group couldn’t immediately comment.

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