China National Cereals, Oils and Foodstuffs Corp--the country’s largest food trader, has acquired a 51 percent stake in the Dutch trading group Nidera. This is part of agreements signed during Chinese President Xi Jinping’s visit to the Netherlands.
COFCO says the stake buy is the largest global acquisition in China’s agricultural industry, the deal is estimated at 1.2 billion US dollars. The share purchase helps COFCO gain a bigger voice in global grain pricing, as well as secure more supplies from major grain growing regions. Nidera is seen as benefiting from COFCO’s logistics, processing and sales network in China.
Source: CCTV
