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A Chinese employee is seen at the stand of COFCO (China National Cereals, Oils and Foodstuffs Corporation) during a food exhibition in Shanghai, Nov 16, 2014. [Photo/IC] |
Chinese State-run grain trader Cofco Corp said on Tuesday it will buy the remaining stake it does not already own in Dutch firm Nidera, the latest move to expand its global footprint.
It will buy the minority take from Cygne BV, bringing its ownership in Nidera to 100 percent. The closure of the transaction, which is subject to regulatory approvals, is anticipated to take place in the fourth quarter.
Cofco bought its initial stake in Nidera in February 2014.
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