Chinese firm to buy 5% stake in Smithfield

07/2/2008 | Wall Street Journal (free content), The

Smithfield Foods will reportedly sell a 5% stake in the company to a government-owned Chinese firm, COFCO Limited. The deal signifies China's emerging role as a major player in the world meat market. Reports show that U.S. pork exports to China have been surging, partly because of the upcoming Olympic Games.

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Wall Street Journal (free content), The

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