21 August 2019

COFCO buys 51% stake in Dutch grain trader Nidera, paper says

Chinese state-owned food company COFCO Corp. said it has signed an agreement to buy 51 percent stake in Netherlands-based grain trader Nidera BV to establish a strategic partnership, China Securities Journal reported Tuesday. The company did not reveal the deal value, but said it marks the largest international acquisition so far in China’s grain and oil industry, the report said. COFCO chairman Ning Gaoning was quoted as saying that the move will help the global layout of the company’s supply chain and enhance its operational efficiency.

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