China's COFCO to pay $1.5 billion for stake in Noble's agribusiness

COFCO Corp is to pay $1.5 billion to buy a 51 percent stake in Noble Group Ltd's agribusiness, its second acquisition in less than two months, writes Reuters. The two companies plan to form a joint venture, in which Noble will retain a 49 percent stake, that will link COFCO's grain processing and distribution business in China with Noble Agri's grain sourcing and trading arms.

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