Cofco, the state-backed Chinese food group, yesterday took a step towards becoming one of the leading agricultural traders by outlining an agreement to secure full ownership of Nidera, the Dutch grain dealer.
The deal to buy the 49 per cent of Nidera that it does not already own will expand Cofco’s reach further into Europe and Latin America, as China attempts to build an agricultural trader that can fully compete with western rivals led by Cargill of the US.
Terms of the deal were not disclosed.
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