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China’s COFCO overhauls Brazil business after accounting crisis: Sources

LONDON/SAO PAULO: Chinese food commodities trader COFCO is overhauling its operations in Brazil, including a management reshuffle, as it restructures its Nidera Sementes Ltda business following accounting irregularities reported last year, according to company documents and sources. Since first investing in Dutch-based trader Nidera in 2014, COFCO has had several setbacks including a US$150 million financial hole in its Latin ...

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