Grain trader Archer Daniels Midland Co has sold its palm business in Brazil to local player Reflorestadora Moju Acará, according to the Brazilian antitrust watchdog Cade.
Cade, which gave the nod to ADM’s deal, said on the official gazette that the sale was part of a broader global portfolio review by the global trader. The deal value has not been disclosed.
ADM’s businesses in Brazil also include soy, corn, wheat and cotton.
By Luciano Costa
Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.
German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.