EXCLUSIVE South Korea's CJ CheilJedang puts Brazil soy crusher CJ Selecta up for sale, sources say [Reuters]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: Reuters
U.S. companies Cargill Inc (CARG.UL) and Archer-Daniels-Midland Co (ADM.N) are among two dozen firms that have sought information about CJ Selecta from its advisors, the sources said on condition of anonymity because they are not authorized to discuss the process. Buying CJ Selecta, the world's largest producer of soy protein concentrate used as animal feed, would help grain merchants doing business in Brazil add higher margin processed products to their portfolio. The company also makes soyoil, organic fertilizer and ethanol in Minas Gerais state. Brazil is the world's largest exporter of soybeans. The seller is South Korea's conglomerate CJ CheilJedang (097950.KS) , which declined to comment. In a regulatory filing on April 26, CJ CheilJedang said it was reviewing various strategic options for CJ Selecta, without elaborating. It said it would issue another statement whenever a decision was made, "or within the next three months." Cargill declined to comment. ADM did not r
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