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ADM announces 50 percent stake in corn wet mill business of Aston Foods

Published 03/01/2018, 10:36 AM
© Reuters.  ADM announces 50 percent stake in corn wet mill business of Aston Foods
ADM
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  • Archer Daniels Midland (ADM +0.5%) to acquire a 50 percent equity stake in the sweeteners and starches business of Russia-based Aston Foods and Food Ingredients.
  • “ADM has substantially added to our global sweeteners and starches capabilities with acquisitions serving the European Union, Middle East and North Africa markets, and now we are expanding to serve the growing Russian food and beverage industry,” said Pierre Duprat, president, ADM Europe, Middle East and Africa. “Aston is a key player in this important market, and we look forward to joining them and bringing our experience and capabilities to help our new jointly-owned business grow.”
  • As per the agreemnet, ADM will become 50 percent owner of Aston’s corn wet mills in Ibred and Novlyanka.
  • The company is targeting to close this transaction in the next quarter.
  • Press Release
  • Now read: Lanny's February Dividend Stock Watch List


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