Cofco, the Chinese state-owned grains trader, took another step in consolidating its recently acquired international businesses, creating a new holding company with China Investment Corp, the sovereign wealth fund.
Cofco said it had signed an agreement with CIC to create Cofco International Holding Company.
The state-run grain buyer will place its shares in Noble Agri — the agriculture joint venture with Noble Group of Hong Kong set up last year — as well as its stake in Dutch grains trader Nidera into the holding group.
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