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Cargill looking to buy

Cargill, one of the world’s largest private corporations, is looking for acquisitions, after the collapse in raw material and share prices cut valuations, according to a Bloomberg report citing an executive at the agribusiness and trading company.

“There will be opportunities to acquire both assets, companies and hire people that we didn’t think we’d be able to do six months ago,” Asia-Pacific president Paul Conway said in an interview with Bloomberg Television in Singapore.

The company has taken non-material write-downs in the last few months, and would take more, Conway told Bloomberg, estimating the figure in the tens of millions of dollars, without giving a precise number.

In October, Cargill posted a 62 per cent rise in quarterly earnings, led largely by its industrial business.

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