Deals
China Plans Overhaul of State Agriculture Giants
- Government plans to transfer some Sinograin assets to Cofco
- Sinograin’s trading business, crushing capacity to move
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China is said to be planning a shake-up of its massive state-run food companies in a move that’s set to reverberate around global agricultural markets.
The government plans to transfer the trading assets of stockpiler Sinograin to food giant Cofco Corp., according to people with knowledge of the plan. The restructuring would be implemented in several stages and also includes Cofco taking over oilseed crushing capacity from Sinograin, said the people, who asked not to be identified because they’re not authorized to speak publicly.