Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions The deal to sell Nidera Seeds, which operates in Latin America, was announced by COFCO International and Syngenta in a statement on Monday.
China's State-owned Chinese food giant Cofco Corp. on Friday announced it was buying a 51% stake in closely held grains trader Nidera NV. By investing in Dutch Nidera, Cofco--China's largest stated-owned grain trader-- would have greater control over pricing as well as better access to major grain-growing regions, such as Latin America and Russia.