ADM Reduces Stake in WilmarThursday, September 17, 2020
Global agribusiness giant ADM has reduced its stake in Asian agribusiness Wilmar to raise additional capital. The company said that it completed its secondary block trade of approximately US$550M in ordinary shares in Wilmar, retaining at least a 20% strategic ownership stake.
The partnership between the two companies started in the early 1990s when they jointly built a network of soybean processing operations in China. Since 1994, ADM had been a significant investor in Wilmar. Singapore-based Wilmar has assets in soybean crushing, edible oil refining and packaging, oil palm plantations, palm oil refineries, biodiesel production, speciality fats and oleochemical fatty acids throughout Asia.