China's COFCO buys rest of Dutch commodity trader

Beijing

CHINA'S state-owned grain giant COFCO will buy out minority shareholders in Netherlands-based commodity trader Nidera and take full ownership of the company, it said, as it seeks to become an agribusiness powerhouse.

COFCO's deal to buy out the remaining 49 per cent of Nidera, which trades grains and soya beans among other agricultural commodities, comes two years after it bought just over half of the company for US$1.2 billion.