- In addition to agreeing to sell its South American fertilizer business to Mosaic for $350M, Archer Daniels Midland (NYSE:ADM) says it is abandoning plans to sell its cocoa business and will instead focus on divesting its chocolate operations.
- ADM says it did not agree to a sale of its global cocoa and chocolate business after extensive negotiations with a potential buyer, and will move ahead with a process to sell the chocolate business while retaining most of the cocoa press operations, which Stephens Inc. had said is worth $1.9B.
- ADM also will purchase the 20% of Alfred C. Toepfer International it doesn’t already own for €83M ($114M), a move ADM says will fully integrate the business into its global origination network.