COFCO Sugar Gives up Purchasing Yongxin Group

By CnAgri2017-05-03 17:25:21 Print

COFCO Sugar informed in April that it gave up the purchase of Yongxin Group. Since small shareholders of Yongxin Group are not willing to give up their prior purchase right, COFCO dismissed the “Share Transfer Framework Agreement” and the related “Trustee Agreement”. COFCO Sugar once wished to enlarge cane sugar production capacity and influence by merging Yongxin Group and thus to become one in the Top 5 sugar producers. After this failure, COFCO Sugar would not give up finding a new target.