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...The company has faced legal action from US farmers and grain exporters after selling a genetically-modified corn strain that hadn’t been approved by China, leading the country to block corn imports from...
...According to the Hong-Kong based company, selling its 49 per cent stake in Noble Agri to Cofco, China’s state-backed grain business, would place its “financial metrics . . ....
...As for disposals, Noble could sell all or part of its 49 per cent stake in its agricultural joint venture with Cofco, the state-owned Chinese grain trader....
...“We saw performance gains in key global businesses, including animal nutrition, grain and oilseed processing, most of our poultry operations, and several food ingredients categories,” he said....
...When Keith McMurtry, corporate controller of Scoular, a 124-year-old US grain-trading and storage company, was asked by his chief executive to wire $17.2m to an offshore bank account, he did not question...
...It also flagged roughly Y50bn in goodwill impairment charges on US-based grains merchant Gavilon, which it bought for $2.7bn in 2013....
...It has also meant that their activism is more easily exportable, more pliable and better able to go with the grain of investment in the countries of Asia and Europe....
...Founded in 1915 to move coal along the Kentucky River, the company freights a wide range of goods, from chemicals and fertilisers to construction materials, coal and grains....
...executive Yusuf Alireza, pictured, said the company was looking for ways to deploy the $1.5bn of proceeds from the sale of a majority stake in its agricultural business to Cofco, the Chinese state-owned grain...
...The US Geological Survey estimates total ”resources” – including unproven reserves – at 300bn tonnes, much of it on continental shelves and seamounts in the Atlantic and Pacific....
...In April, Noble sold a majority stake in its agribusiness to Cofco, China’s state-owned grains trader, for $1.5bn....
...China’s timeline for approving biotech grain imports lags behind months or years that of the US....
...The prices of coffee, cocoa, wheat and other grains have risen sharply since the start of the year, because of droughts in Brazil and in the grain growing regions of the US, Ukraine and Australia....
...Last May the Japanese trading house said it would buy the whole of Gavilon for $3.6bn in cash to create the world’s number two grains trader by volume, not far behind Cargill....
...China has imposed significant conditions to clear Marubeni’s $5bn takeover of US-based grain trader Gavilon, in a new show of how Beijing’s antitrust regulators are flexing their muscle reviewing global...
...Australia is particularly exposed to the El Niño weather phenomenon, a recurring climatic event in the Pacific region....
...GrainCorp operates seven of the eight ports that ship in grain from Australia’s eastern seaboard as well as warehouses....
...Marubeni is still awaiting clearance from China’s competition regulator, to go ahead with its $3.6bn acquisition of Gavilon, the US-based trader with a strong position in supplying grains and oilseeds to...
...The Chinese government is holding up the completion of two big deals in commodities as it reviews their effects on competition: Glencore’s $6.1bn acquisition of Toronto-listed grain trader Viterra and Marubeni...
...ADM, a top agricultural commodity trader, has been scouting acquisitions to procure more grain outside its home base in the US, where a severe drought has cut export volumes....
...In addition, buying Gavilon deepens Marubeni’s control of actual grain supplies....
...grain trader Viterra....
...Increasingly, the grain-deficit regions of Asia are going to have to get even more tightly linked with the grain-surplus regions of the Americas.”...
...The Gavilon deal will roughly double Marubeni’s 2012 grain-handling volume to 55m tons, compared with 70m at the likes of Cargill....
...Marubeni, a trading house, made headlines in May when it acquired Gavilon, a US grain exporter, for $5.6bn including debt....
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