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