NIB
iPath Dow Jones-UBS Cocoa Total Return Sub-Index ETNNYSEARCA
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  • Oct. 2, 2013, 3:11 AM
    • Archer Daniels Midland (ADM) is reportedly close to selling its cocoa business to Cargill in a deal that could be worth up to $2B.
    • The divestiture would further strengthen ADM's shift towards the grains industry as it completes its $3B acquisition of GrainCorp. The transaction would also reduce ADM's exposure to the lower profitability that's affecting the cocoa sector.
    • The deal would create a global price-setting giant to rival Zurich-based Barry Callebaut (BYCBF.PK), the world's biggest producer of industrial chocolate products. Cargill and Barry Callebaut would account for over 50% of world capacity.
    • Food producers that could be affected include MDLZ, HSY, RMCF, KRFT, NSRGY.PK.
    • ETF: NIB
    | Oct. 2, 2013, 3:11 AM | 1 Comment
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