COFCO International has announced the successful completion of the acquisition of the remaining 49% of Noble Agri originally announced on December 23, 2015.
The newly structured company, which will now be known as COFCO Agri Ltd., encompasses 45 asset locations across 29 countries, has the handling capacity to deliver 47 million tons of products worldwide, and posted sales of roughly $17 billion last year.
“From the initial acquisition in April 2014 to the purchase of the remaining share at the end of December to the closing today, COFCO Agri is moving rapidly to take its place as a multi-flag world-class global agri-business,” said Patrick Yu, President of COFCO Corp in a company statement. “Performance across all business units has improved dramatically since June of last year, and we expect to see further improvement in 2016.”
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