China's top pig farmer seeks Cofco deal

State-owned food giant Cofco is seeking to restructure with private-sector help. And an Rmb1 billion investment from a pork producer into its finance unit could be the latest step.

China’s largest pig farmer Guangdong Wens Foodstuffs Group plans to invest up to Rmb1 billion $147 million in a subsidiary of Chinese agribusiness giant Cofco Group, Guangdong Wens said in a statement to the Shenzhen stock exchange on Tuesday.

Guangdong-based Wens will put between RMB800 million and RMB1 billion into Cofco Capital, the finance unit of the state-owned enterprise. Wens expects the investment to help bolster its business by working more closely with Cofco, it said in the statement.  

Cofco announced in April that Cofco Capital was seeking to raise 8 billion yuan, half of it from private sector investors. The conglomerate is...

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