Cofco to buy control of Noble Agri for $1.5bn

Commodities trader Noble Group gets debt from its loss-making agriculture unit off its books, while Cofco gains an international trading platform.

Cofco to buy control of Noble Agri for $1.5bn

Cofco has agreed to pay $1.5 billion in cash for a 51% stake in Noble Agri, the loss-making agricultural unit of Hong Kong-based Noble Group, continuing the Chinese state-owned grain trader's recent deal-making spree as it seeks to secure the country's food supplies.

Cofco acquired a majority stake in privately-held Dutch grain trader Nidera in late February.

Cofco said a consortium of international investors led by private equity firm Hopu, which...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: cofco | noble | jp morgan | morgan stanley | hopu | acquisitions | consumer

Print Edition

FinanceAsia Print Edition