Deals
China Creates Agriculture Giant With Grain, Cotton Merger
- Sinograin, Cotton Reserves Corp. merger to help cut stockpiles
- China holds about half of world’s corn, cotton inventories
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China’s merger of state cotton and grain reserves companies will create the country’s biggest agriculture product group, state media reported.
The State Council approved China National Cotton Reserves Corp.’s merger with China Grain Reserves Corp., known as Sinograin, China Central Television reported Thursday. The new company will have combined assets of 1.47 trillion yuan ($213 billion), according to the report.