AgriNurture buys 49% stake in China-based agri-commodity trading firm for Php 308 M | mb.com.ph | Philippine News
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AgriNurture buys 49% stake in China-based agri-commodity trading firm for Php 308 M

MANILA — Listed firm AgriNurture Inc. (ANI) has bought a 49-stake in agri-commodity trading company Zongshan Fucang Trade Co. Ltd. for Php 308.12 million (Renminbi 42.63 million) to expand its operations in China.

via dealstreetasia.com | 2016.mb.com.ph

via dealstreetasia.com | 2016.mb.com.ph

Fucang is an agri-commodity trading company based in Zhongshan City, Guangdong Province, China, mainly engaged in the importation of rice and fruits from South East Asia and export of spices from China to various countries worldwide.

It has also various investments in rural real estate development and agri trading platform.

“The acquisition is expected to expand the trading business of the company and to develop new distribution networks in China,” ANI told the local bourse.