Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Cofco Said Set to Buy Control of Noble Unit at $3 Billion Value

April 2 (Bloomberg) -- Cofco Corp., China’s largest food company, plans to acquire a majority stake in Noble Group Ltd.’s agriculture unit in a deal that values the business for about $3 billion, two people with knowledge of the matter said.

Hopu Investment Management Co., a private-equity fund, has joined Cofco in the purchase, the people said, asking not to be identified discussing private information. The group plans to pay about $1.6 billion for a 51 percent stake, one person said.

Spokesmen for Cofco, Hopu and Noble couldn’t be reached outside of normal business hours. Noble, Asia’s biggest commodity trader by sales, said last month that it is in talks to form a joint-venture around the unit.

Noble’s agriculture unit stores, processes and trades commodities from sugar to grains, oilseeds and cotton. The deal comes after state-owned Cofco agreed in February to buy 51 percent of Dutch grain trader Nidera BV, which has annual sales of more than $17 billion, as it seeks to expand food supplies for the world’s most populous nation.

Agriculture is Noble’s smallest unit by revenue, accounting for about 16 percent of sales in 2013, according to data compiled by Bloomberg.

Hopu, which was set up by Fang Fenglei, the Chairman of Goldman Sachs Group Inc.’s Chinese securities venture, is seeking to boost its second local fund to $1.6 billion after already raising $1.2 billion, a person with knowledge of the matter said last month.

To contact the reporters on this story: Zijing Wu in Hong Kong at; Cathy Chan in Hong Kong at

To contact the editors responsible for this story: Mohammed Hadi at; Chitra Somayaji at; Philip Lagerkranser at James Callan

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.