China’s state-owned foodstuff conglomerate COFCO Corp. announced Wednesday [23 December 2015] that it will fully acquire Noble Agri from Hong Kong energy and commodity company Noble Group. In an agreement signed Tuesday, COFCO agreed to buy Noble Agri’s 49 percent stake, held by Noble Group, for 750 million U.S. dollars…Full Article: Xinhua Dec 2015

Key Point

  • In 2014, Noble Agri supplied 46 million MTs of agricultural goods across the world.

ChinaAg Comments

  • COFCO’s February 2014 investment in Nidera and April 2014 investment in Noble Group was 60% financed by COFCO and 40% by outside investors such as: Hopu Investment Management Co. (Chinese private-equity firm), Temasek Holdings (Singapore state-owned investment firm), Standard Chartered Private Equity and the World Bank’s International Finance Corp.
  • In April 2014, COFCO acquired a 51% stake (estimated at US$1.5 billion) in Noble Group’s Agribusiness Division (trades in grains, oilseeds, sugar, cocoa, cotton, and coffee).
  • In February 2014, COFCO purchased a 51% stake (estimated at US$1.2 billion) in Nidera, a Dutch grain trading company.
  • In March 2013, COFCO announced that it received $4.82 billion in loans from the China Development Bank in order to stabilize food prices and improve productivity.
  • In November 2012, COFCO announced that for the next four years it had approximately US$10 billion to fund overseas mergers and acquisitions.

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