Archer Daniels Midland to cut stake in Wilmar, sell shares for $685.28m

Uploaded By:  Nathanielle Punay Submitted By:  Nathanielle Punay Case Study:  No The company had a 24.6% effective stake in Wilmar as of 4 March. Grain trader Archer Daniels Midland Co (ADM) said on Wednesday it plans to sell shares and bonds in Singapore-based Wilmar International with a combined value of $1.1b (US$800m). ADM, which is one of Wilmar’s largest shareholders, added that it expects to retain at least a 20% stake in the agribusiness firm. The company had a 24.6% effective stake in Wilmar as of 4 March, according to Refinitiv. read more