$1.3 billion transaction frees capital for higher-return, less-volatile investments
KUALA LUMPUR, Dec 16 (Bernama) -- Archer Daniels Midland Company (NYSE: ADM) today announced that it has reached an agreement to sell its global cocoa business to Olam International Limited (SGX: O32) for $1.3 billion, subject to customary adjustments.
“We are continuing to actively manage our portfolio to create shareholder value by improving returns and dampening the volatility of our earnings,” said ADM Chairman and CEO Patricia Woertz. “This transaction will allow us to redeploy capital to investments that offer improved returns potential and less volatility than the cocoa business, or distribute excess capital to shareholders, or a combination of both.”
