Archer Daniels Midland unloads stake in Graincorp

• Archer Daniels Midland (NYSE:ADM) announces that it sold its 19.9% stake in GrainCorp Limited for a total value of about A$387M ($287.11M).
• “As part of our ongoing portfolio management, we carefully considered our equity investment position in GrainCorp and determined that we could better meet our long-term returns objectives by reallocating that capital,” says ADM CEO Juan Luciano.
• Source: Press Release