ADM raises stake in German group
ARCHER Daniels Midland (ADM), the US agribusiness group, is building up its stake in Germany-based grain-trading business AC Toepfer.
ADM is acquiring a 50% stake in Intrade, which in turn holds a half-share of Toepfer. ADM acquired the other half of Toepfer in 1982.
Intrade is currently owned by three European groups – Frances Sigma, the Netherlands Cebeco and Germanys DRWZ.
Toepfer is ranked as one of the biggest of the “second tier” of grain traders world-wide – after Cargill/Continental, Bunge and ADM itself.
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- Tomkins to sell flour mills , FWi, , 01 April 1999
- Financial Times 06/10/99 page 36 (News Digest)