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Noble to sell 51% of agribusiness to Cofco

Move valuing unit at US$3.22b will result in an agribusiness joint venture

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AFTER months of intense market speculation and a spin-off listing that did not materialise, Noble Group has finally agreed to sell a majority stake in its agricultural business to China's largest grain trader, Cofco Corp, in an all cash transaction that values the unit at US$3.22 billion - PHOTO: AFP

AFTER months of intense market speculation and a spin-off listing that did not materialise, Noble Group has finally agreed to sell a majority stake in its agricultural business to China's largest grain trader, Cofco Corp, in an all cash transaction that values the unit at US$3.22 billion. The