ADM to sell Bolivian oilseeds business

Agribusiness giant Archer Daniel Midland is to sell its oilseeds business in Bolivia to Inversiones Piuranas for an undisclosed fee, the company said Monday.

The sale will include its processing facility in Santa Cruz de la Sierra as well as nine grain silos and the company’s distribution business.

“We regularly review our portfolio, and the sale of our Bolivian oilseeds operations is part of our long-term growth and transformation strategy,” said Greg Morris, president of ADM’s Oilseeds Processing business unit.

ADM’s oilseeds operations in Bolivia, which employs 400 people, process soybeans and sunflower into oils and protein meal.

The transaction, which is subject to regulatory approvals, is expected to close in the first half of 2018.