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PR Newswire
02-04-2014, 11:23 AM
For those vested and interested
(not vested)
China’s COFCO to pay $1.5 billion for majority stake in Noble agribusiness
SINGAPORE — COFCO Corp will pay an initial $1.5 billion to buy a 51 percent stake in Noble Group’s agribusiness, its second acquisition in less than two months as China’s largest grain trader seeks to strengthen its position in global markets.
The two companies plan to form a joint venture, in which Noble will retain a 49 per cent stake, that will link COFCO’s grain processing and distribution business with Noble Agri’s grain origination and trading business, Noble said today (April 2).
The move follows COFCO’s purchase of a 51 per cent stake in Dutch peer Nidera in late February to gain direct access to South American grain and oilseed supplies in a deal that valued Nidera at $4 billion including debt.
It also comes after a wave of consolidation in the world agribusiness sector has shrunk the number of potential acquisitions for COFCO to bulk up enough to compete globally with larger rivals ADM, Bunge Ltd, Cargill Inc and Louis Dreyfus Corp, known as the ABCDs.
...
http://www.todayonline.com/business/chin...ribusiness
(not vested)
China’s COFCO to pay $1.5 billion for majority stake in Noble agribusiness
SINGAPORE — COFCO Corp will pay an initial $1.5 billion to buy a 51 percent stake in Noble Group’s agribusiness, its second acquisition in less than two months as China’s largest grain trader seeks to strengthen its position in global markets.
The two companies plan to form a joint venture, in which Noble will retain a 49 per cent stake, that will link COFCO’s grain processing and distribution business with Noble Agri’s grain origination and trading business, Noble said today (April 2).
The move follows COFCO’s purchase of a 51 per cent stake in Dutch peer Nidera in late February to gain direct access to South American grain and oilseed supplies in a deal that valued Nidera at $4 billion including debt.
It also comes after a wave of consolidation in the world agribusiness sector has shrunk the number of potential acquisitions for COFCO to bulk up enough to compete globally with larger rivals ADM, Bunge Ltd, Cargill Inc and Louis Dreyfus Corp, known as the ABCDs.
...
http://www.todayonline.com/business/chin...ribusiness
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