RIGHT BG
COFCO Co, a leading State-owned grain trading firm, plans to sell a 100 percent stake in a Shanghai-based commercial property unit, according to information put up Monday on the website of China Beijing Equity Exchange.
The potential buyer will need to pay 344 million yuan ($55.7 million) for the unit, and also help the unit pay off its debt from COFCO worth 54.13 million yuan, according to the posted information.
The on-sale unit gained a net profit of 2.24 million yuan in the first half of 2014.
PE firms take stake in Cofco unit
2014-06-09Cofco takes a bite out of nation‘s food insecurity
2014-06-03COFCO to buy Noble Group‘s agricultural unit
2014-04-03COFCO buys 51% of Dutch grain trader
2014-03-01COFCO eyes deals for sugar, wine overseas
2013-09-29COFCO incorporates logistics firm to boost status
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