March 28, 2018 / 2:37 PM / in 6 months

Dutch court unfreezes assets of former Nidera owners in dispute with China's Cofco

AMSTERDAM, March 28 (Reuters) - A Dutch court on Wednesday lifted a freeze on assets of former owners of Nidera in a dispute with China’s Cofco, saying that Cofco had failed to substantiate claims running into the hundreds of millions of dollars.

In a summary judgment, the Rotterdam court ordered that a freeze imposed in January should be lifted and noted that the companies were in arbitration at France’s International Chamber of Commerce.

Cofco says it overpaid in its 2017 acquisition of Nidera, a Rotterdam-based grain trading company, due to misrepresentations by the former owners.

Reporting by Toby Sterling; Editing by Kevin Liffey

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