Cofco to Sell Stake in Ethanol Business to China Starch, Apple Daily Says
By Sep 9, 2010
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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.
To contact the reporter on this story: Sophie Leung in Hong Kong at sleung59@bloomberg.net