China’s largest food processing company, China National Cereals, Oils and Foodstuffs Corporation, will take China Grain and Logistics Corporation as its subsidiary, the State-owned Assets Supervision and Administration Commission of the State Council said on Tuesday [March 12, 2013]. “With the approval of the State Council, China Grain and Logistics Corporation will become COFCO’s wholly owned subsidiary,” said the commission…Full-text article: China Daily Mar 2013

Key point

  • COFCO hopes the acquisition of China Grain and Logistics Corporation will decreases its costs of transporting oil and grain

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