October 16, 2014

COFCO consortium acquires 51% of Nidera

       
 

An investment consortium led by COFCO has bought over 51% of Nidera, a major international agribusiness based in the Netherlands.

The transaction was first announced on February 28, 2014. The COFCO consortium includes Hopu Investment, Temasek, IFC, Standard and Chartered Private Equity.

"In seizing this opportunity, COFCO is aiming to establish itself as a global player with a fully integrated value chain worldwide, and to contribute to the stability and development of the global market," said Frank Ning, the chairman of COFCO.

With the conclusion of the deal, Nidera is now favourably positioned for growth in China, according to a COFCO press release. 

COFCO's position will also be strengthened in the international agricultural industry thanks  to Nidera's global trading network and its fast growing seed business.

"This generates great growth opportunities. The Chinese and Asian markets are of great importance to Nidera. We were looking for a strong partner to jointly invest in future growth, and a strategic partnership with COFCO is an ideal choice for Nidera. It will benefit both sides", said Nidera CEO Ton Van Der Laan.

COFCO and Nidera will share market information and promote Nidera's seed business in China, which will drive the development of China's domestic seed sector, according to Patrick Yu, the president of COFCO.