Archer Daniels Midland (ADM) reaches a tentative deal to sell its 23% stake in Gruma SAB, the...

|About: Archer Daniels Midland Co. (ADM)|By:, SA News Editor

Archer Daniels Midland (ADM) reaches a tentative deal to sell its 23% stake in Gruma SAB, the world's biggest corn flour and tortilla maker, to a Mexican businessman. The planned sale comes as ADM tries to buy GrainCorp for ~$2.8B, and it could help raise cash to avoid a hit to its credit rating that might result from a costly acquisition.