date:Apr 03, 2014
COFCO Corp. has agreed to pay $1.5 billion for a majority stake in Noble Group Ltd's agribusiness, its second acquisition in less than two months, as China's largest grain trader seeks to strengthen its market position worldwide.
The two companies plan to form a joint venture, in which COFCO will own 51 percent, to link its grain processing and distribution business in China with Noble Agri's grain sourcing and trading arms, the firms said on Wednesday.
The move will help China develop a power