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Noble Group Closes Deal with COFCO to Establish Agribusiness Joint Venture Release Time : 2014-09-30

30 September 2014

COFCO Corporation (“COFCO”), a leading supplier of diversified products and services in the agricultural products and food industry in China, Noble Group Limited (“Noble Group”), a market-leading global supply chain manager of agricultural and energy products, metals and minerals headquartered in Hong Kong, and an investment consortium consisting of Hopu Investment, Temasek, IFC and Standard andChartered Private Equity, are pleased to announce that the proposed transaction to form an agri-business joint venture “Noble Agri” has been successfully closed.

 “I would like to thank all the parties that enabled this transaction to come to fruition seamlessly,” commented Mr. Frank Ning, Chairman of COFCO Corporation. “COFCO’s purchase of a controlling stake in Noble Agri is a significant milestone in our strategic move to enhance our presence in the seaborne market for agricultural products. We look forward to working in partnership to build on Noble Agri’s existing footprint and to increase its presence in the global market.”

Mr. Richard Elman, Chairman of Noble Group said, “The completion of this transaction marks a significant milestone in the continued development of our bulk commodity business. I would particularly like to thank our new partners for their support in bringing this transaction to fruition and have every confidence that with their support Noble Agri will emerge as a key player in global agricultural markets.”

About COFCO

Founded in 1949, COFCO has developed from a grains and oilseeds trading company into China’s leading service provider of agricultural products and diversified food services. COFCO is committed to creating an agricultural and food company with an integrated value chain that connects farms to households and creates a full-service urban system, and to utilizing sustainable natural resources to provide nutritious, premium-quality products.

From trading and processing of grains and oilseeds, COFCO’s value chain has now extended to origination and husbandry, logistics and storage, raw materials processing, biofuels, branded food production and sales, hotels and real estate, financial services, among others. COFCO is committed to building its core competencies in each stage of the value chain and maximizing value for our stakeholders, customers and employees.

As a widely recognized global company, COFCO has been awarded as one of the “Fortune 500” companies for 21 consecutive years, the only Chinese agri-food enterprise on the list.

www.cofco.com

About Noble Group

Noble Group (SGX: N21) manages a portfolio of global supply chains covering a range of agricultural and energy products, as well as metals, minerals and ores.  Operating from over 140 locations and employing more than 70 nationalities, Noble facilitates the marketing, processing, financing and transportation of essential raw materials. Sourcing bulk commodities from low cost regions such as South America, South Africa, Australia and Indonesia, the Group supplies high growth demand markets, particularly in Asia and the Middle East. In order to ensure the integrity of its supply chains, the Group has a portfolio of interests in strategic logistics and processing assets which form an integral part of facilitating its key trade flows. We are ranked number 76 in the 2014 Fortune Global 500.

www.thisisnoble.com

About HOPU Investment

HOPU Investment is a private equity investment firm with offices in Beijing, Hong Kong and Singapore and strategic partners in New York and London. The company has developed strong relationship with sovereign wealth funds and institutional investors from APAC, Americas, Europe and Middle East.  HOPU's debut fund successfully raised US$2.5 billion in 2008 and most recently had initial closing at US$1.1 billion for its HOPU USD Master Fund II, L.P., which focuses in consumer, natural resources, and financial services sectors.

 

 

 SGX Annoucement of Noble Agri:

http://infopub.sgx.com/FileOpen/Noble%20Agri%20Announcement.ashx?App=Announcement&FileID=316474
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