News in Brief
ADM sells Bolivian oil and meal business
Archer Daniels Midland Co (ADM) is divesting its Bolivian oilseeds operations.
Inversiones Piuranas is to acquire the business but financial terms of the deal, which is set to close in H1 2018, were not disclosed.
ADM’s oilseeds operations in Bolivia involves the processing of soybean and sunflower into oils and protein meal. The agribusiness giant employs around 400 workers in those activities in Bolivia. The company did not reveal what impact the sale would have on those employees.
ADM, which said the sale is part of its long-term growth and transformation strategy, said the divestment includes nine grain silos and a distribution business in Bolivia and its processing facility in Santa Cruz de la Sierra.
ADM said will continue to operate its oilseeds business in Bolivia until the deal is finalized.
