On March 3rd 2016, COFCO International Limited. (hereinafter referred to as “CIL”), a subsidiary of COFCO Corporation, is pleased to announce that the purchase of 49% shares of Noble Agri Limited has been successfully closed. COFCO now, including indirectly through its affiliates, holds a 100% stake in Noble Agri Limited, which is renamed as COFCO Agri Ltd..
Matt Jansen, CEO of COFCO Agri Ltd. added, “The closing of the acquisition marks a major milestone. We are going to make COFCO Agri a trusted brand in the global agri-business industry.”
Patrick Yu, President of COFCO Corp., commented, “COFCO Agri is moving rapidly to take its place as a multi-flag world-class global agri-business. Performance across all business units has improved dramatically since June of last year, and we expect to see further improvement in 2016.”
ABOUT COFCO AGRI LTD.
COFCO Agri Ltd. engages in agricultural trading and processing businesses. Serving as the principal international origination platform for COFCO, it originates from surplus producing regions such as South America, South Africa, East Europe, North America and Australia, to supply regions with high demand such as China, Asia and the Middle East. We own and operate logistics and processing assets in strategic locations within key global trade flows. COFCO Agri had sales of $16.9 billion last year, and delivered 47 million tons of products globally, with 45 asset locations and 9,500 employees in 29 countries.