ARCHER Daniels Midland Co. (ADM) announced that it has reached an agreement to purchase a 50% stake in Cairo, Egypt-based Medsofts Group.
The new 50/50 joint venture will own and manage merchandising and supply chain operations, including an international merchandising operation that annually handles more than 1.5 million metric tons of grains, oilseeds and soft commodities destined for the Middle East and North Africa.
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