China's COFCO to pay $1.5 billion for stake in Noble's agribusiness
date:Apr 03, 2014
whom Goldman Sachs partnered for its China joint venture.

The final price COFCO pays will be 1.15 times the audited book value of the agribusiness division - factoring in COFCO's 51 percent ownership - for the financial year ending December 31, 2014, according to the Noble statement. The audited book value was $2.8 billion by December 31, 2013, it said.

COFCO and Noble still need to obtain regulatory and shareholder approval for the deal.

J.P. Morgan was sole financial adviser to Noble while
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