COFCO International announced on February 28 the completion of the total acquisition of all remaining unowned stock in Nidera Capital B.V. The closing of this deal now gives COFCO complete ownership of two global agribusinesses – Nidera, and Noble Agri Ltd. - which has been renamed COFCO Agri.
COFCO acquired 51 percent of Nidera in 2014 and later announced in August 2016 its agreement to acquire the remaining 49 percent.
Based in the Netherlands, Nidera is a global grain trader that provides COFCO with upstream origination and trading operations that when integrated with COFCO’s downstream and processing abilities creates a complete value chain.
Moving forward, Jingtao (Johnny) Chi has been appointed as the new chief executive of Nidera, effective immediately, assuming the role from Dierk Overheu who has announced his retirement.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.