ADM To Sell Its 19.9% Stake In GrainCorp For About A$387 Mln

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( - Archer Daniels Midland Co. ( ADM ) said that it has entered into an underwriting agreement to sell its 19.9 percent ownership stake in GrainCorp Limited (GNC.AX) for a total value of about A$387 million.

The transaction has been executed by way of an underwritten sale to an underwriter. Under the terms of the agreement, ADM will sell all of its 19.9 percent investment in the issued capital in GrainCorp at a price of A$8.53 per share.

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Referenced Symbols: ADM

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