Cofco Noble II (IFC-37939)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 11, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
COFCO AGRI LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 36.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 800.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 13, 2017

Disclosed by Bank Dec 29, 2015


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Project Description
This project finances the improvement of the food supply chain and comprises of an investment in Noble Agri, a global agri-commodities company that processes and distributes grains and oilseeds, sugar and ethanol, and other soft commodities.
Investment Description
  • International Finance Corporation (IFC)
COFCO Corporation is a state-owned enterprise headquartered in Beijing. It is a leading agribusiness company, as well as a food supplies and services company in China. HOPU Fund is a private equity fund with investments in public and private assets and companies. IFC's investment would buy out the 49% minority stake of Noble Group in Noble Agri, together with COFCO Corporation, the leading agribusiness group in China, and an international consortium of investors including IFC and HOPU Fund. COFCO, HOPU Fund, IFC and other investors will collectively have 100% shareholding in Noble Agri after closing of the investment.
Contact Information
Project Inquiries: James Shafter Group General Counsel Route de Ferney 207, 1218 Le Grand Saconnex, Geneva, Switzerland Tel +41 21 331 0890 mailto:shafter@nobleagri.com General IFC Inquiries: IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 E Mail: Webmaster Environmental and Social Impact Inquiries: James Shafter Group General Counsel Route de Ferney 207, 1218 Le Grand Saconnex, Geneva, Switzerland Tel +41 21 331 0890 mailto:shafter@nobleagri.com ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/