China’s Hainan Rubber, parent buy 75% of Singapore trading firm

09 February 2012 09:54  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hainan Rubber Group said it and parent Hainan State Farms Group are jointly acquiring a 75% stake in Singapore-based commodity trader R1 International for an undisclosed amount.

Hainan State Farms will take up a 60% interest in the company, while Hainan Rubber will hold a 15% stake in R1 International, Hainan Rubber said in a filing to the Shanghai Stock Exchange.

State-owned Hainan State Farms Group, which has the largest rubber tree plantation base in China, owns 72.98% of Hainan Rubber Group.

By: Adele Zhu

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