Chinese State-owned food group COFCO is looking to sell the Latin American seeds business of Dutch-based grain trader Nidera, a company it fully took over in February, according to people familiar with its plans. Morgan Stanley is advising COFCO on the sale, the sources said. They declined to be identified as they were not authorized to speak to the media…Full Article: The Global Times Aug 2017
- In August 2017, COFCO International (subsidiary of COFCO Group) signed a grain supply partnership with Growmark, an Illinois-based agricultural cooperative. As a result of the agreement, Growmark will assist COFCO’s Saint Louis office in sourcing grain. In 2016, COFCO acquired a grain terminal near the Port of Saint Louis due to its 2016 acquisition of Nidera.
- In August 2016, COFCO announced it would buy out the remaining outstanding stake in Nidera BV from Cygne BV.
- In October 2015, a “rogue trader” from Nidera BV (COFCO-owned) lost $200 million in biofuels. According to the Nidera CEO, the financial losses were noticed after global biofuel prices dropped in early 2015.
- In February 2014, COFCO purchased a 51% stake (estimated at US$1.2 billion) in Nidera, a Dutch grain trading company. As a result, COFCO will be able to source oilseeds, corn, soybeans, and edible oils directly from Brazil, Argentina, and Uruguay.
- Founded in 1952 and headquartered in Beijing, COFCO is the largest supplier of products/services in the agricultural products and food industry in China. COFCO serves as the main importing and exporting channel for bulk agricultural products such as wheat, corn, rice and sugar. As an investment holding company specialized in trade and processing of oil and foodstuff as well as other businesses.
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