Golden Agri's subsidiary sells Tianjin refinery to Louis Dreyfus' unit

SINGAPORE (Nov 27): LDC (China) Trading Company, a subsidiary of Louis Dreyfus Company Asia, is acquiring the entire equity stake of Sinarmas Natural Resources Foodstuff Technology (Tianjin) Co, says Golden Agri-Resources.

Sinarmas Natural Resources Foodstuff Technology (Tianjin) Co. is a subsidiary of Sinarmas Natural Resources (China) Investment Co. which, in turn, is a wholly-owned subsidiary of Golden Agri.

Established in 2009 in China, Sinarmas Natural Resources Foodstuff Technology (Tianjin) Co. is involved in the business of oilseed crushing and vegetable oil refining. It currently operates and owns facilities over a land area of approximately 300,000 sqm in Tianjin to carry out these processes.

---

Related Stories

• Palm oil giants and Sheng Siong Group share the wins
• Plantation sector earnings to decline further in 2QFY2023, analysts maintain 'neutral'
• Golden Agri's 1QFY2023 earnings 'decent', RHB maintains 'buy' with lower TP of 31 cents

---