Archer Daniels Midland to Sell Bolivian Business

By Allison PrangFeaturesDow Jones Newswires

Archer Daniels Midland Co. (ADM) on Monday said it agreed to sell its Bolivia oilseeds operations to Inversiones Piuranas SA.

Terms of the deal, is expected to close in the first half of next year, weren't disclosed.

Continue Reading Below

Archer Daniels has about 400 employees in Bolivia. The company said its oilseeds operations in the country process sunflower and soybeans into protein meal and oils.

Archer Daniels said the deal includes its Santa Cruz de la Sierra-based processing plant, its Bolivian distribution business and nine grain silos.

Archer Daniels shares rose 0.7% to $41.80 Monday morning.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

December 11, 2017 11:12 ET (16:12 GMT)