, Singapore

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

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.

Two of ADM’s units will undertake the proposed sale of Wilmar’s ordinary shares for about $685.28m (US$500m) pursuant to a secondary block trade agreement with a syndicate of managers, the Chicago-based company said.

ADM added that unit ADM Ag Holding also aims to conduct an offering of about $300 million worth of bonds outside the United States.

Read more from Reuters.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!