March 4, 2016
COFCO now complete owner of Noble Agri
COFCO International Limited has acquired the remaining 49% share of Noble Agri Ltd.
The purchase effectively makes COFCO the full owner of the company. With the deal's conclusion, Noble Agri will be renamed to COFCOAgri Ltd.
"I want to thank everyone on our team for all they've done to make this such a seamless acquisition," said Matt Jansen, CEO of COFCO Agri Ltd. "The closing of the acquisition marks a major milestone. Together, we are going to make COFCO Agri the most trusted brand in the global agri-business industry."
COFCO Agri has 45 asset locations in 29 countries. Delivering 47 million tonnes of products globally, its 2015 sales hit close to US$17 billion.
"From the initial acquisition in April 2014 to the purchase of the remaining share at the end of December to the closing, COFCO Agri is moving rapidly to take its place as a multi-flag world-class global agri-business," said Patrick Yu, president of COFCO Corp. "Performance across all business units has improved dramatically since June of last year, and we expect to see further improvement in 2016."