China's state-owned foodstuffs conglomerate COFCO Corp. announced the completed acquisition of controlling stakes in two global agricultural commodities traders on October 28.

COFCO said the two investment deals—a 51-percent stake in Netherlands-based grain trader Nidera and a 51-percent stake in the agricultural unit of Hong Kong-headquartered commodities trader Noble Group—have gone through acquisition examinations and are now complete.

A consortium of investors led by COFCO, including Hopu Investment and Temasek, has taken part in the two deals, with investment from COFCO at over $3 billion, COFCO Chairman Ning Gaoning disclosed at a press conference on October 28.

Nidera, a leading trader of grains and soybeans among other agricultural commodities, has an active presence in more than 20 countries, while Noble Group is one of the world's largest traders in agricultural, minerals and energy products.

Ning said the acquisitions will enable the firm to engage more deeply with the global grain and oil trading platforms and pave the way for the building of an international conglomerate.

After the two deals, COFCO's assets now exceed $57 billion, with revenues amounting to $63.3 billion, according to the company.

Asked whether the firm would conduct more acquisitions, Ning said there will not be any large-scale moves in the near future, but some small ones are likely.