ADM sells 23 per cent interest in Gruma for $510 million

9:50 AM, 18th December 2012

DECATUR, US: Archer Daniels Midland Company (ADM) has sold its 23 per cent interest in Gruma, SAB de CV and its equity investments in related joint ventures for $450 million plus an additional contingent payment of up to $60 million. ADM received $450 million up front and will also receive up to $60 million in future contingent payments over the next 42 months.

“We are pleased that we were able to reach an agreement with Gruma. This sale is part of our ongoing portfolio management actions to redeploy capital into key strategic areas that will help drive higher returns in the future,” said Ray G Young, Chief Financial Officer, ADM.

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