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Cofco to Sell Ethanol Business to China Starch, Apple Daily Says

Cofco Ltd. will sell its stake in an ethanol business to China Starch Holdings Ltd. for about 1.6 billion yuan, Apple Daily reported today, citing unidentified people.

China Agri-Industries Holdings Ltd., a Hong Kong-listed unit of Cofco, will sell options and pre-emptive right of purchase for a 20.74 percent stake in Anhui BBCA Biochemical Co., Ltd. to China Starch, according to the Chinese report.

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