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ADM will ‘redeploy’ $450m gained from Gruma sale

Zoom in font  Zoom out font Published: 2012-12-19  Authour: Kacey Culliney  Views: 17
Core Tip: Archer Daniels Midland has sold its stake in Mexican corn flour and tortilla firm Gruma SAB for $450m as it shifts cash into more profitable areas.
The US corn processor sold back its 23% shares and equity interests to Gruma for $450m up front, with a further $60m agreed in future contingent payments over the next 42 months.

The two firms entered into talks earlier this month on December 5 to initiate the sale.
 
 
 
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