UPDATE 1-China's COFCO in advanced talks for stake in Nidera -sources

jueves 27 de febrero de 2014 06:28 GYT
 

* Details on precise stake, deal value not immediately clear

* Once source says COFCO may pay up to $2 billion for majority control

* Deal will give China access to S.American grain, oilseed supplies (Adds details, quotes)

By Naveen Thukral and Denny Thomas

SINGAPORE/HONG KONG, Feb 27 (Reuters) - China's COFCO Corp is in advanced talks to buy a stake in Dutch grain trader Nidera, people familiar with the matter said on Thursday, in a move that would help the world's most populous country secure food supplies.

This deal - which would mark the first major stake purchase in a trading house by a state-owned Chinese agricultural company - will give the country direct access to South American grain and oilseed supplies.

The precise stake and the amount that China's largest state-owned grain trader was looking to pay for Nidera was not immediately clear.

One Asia-based source told Reuters that COFCO may pay up to $2 billion for majority control of the privately run company.

The Wall Street Journal said last month that COFCO was in talks to buy a minority stake in Nidera valued at around $250 million, citing a person familiar with the deal. The paper said it was not clear how much COFCO was offering to pay.   Continuación...