ADM fails to sell GrainCorp stake

GrainCorp shares fell 7% as ADM failed to find buyer for its 20% stake in Australian bulk grain handler.

GrainCorp shares fell as much as 7% Wednesday after its largest shareholder, Archer Daniels Midland Co. (ADM), failed to find a buyer for its 20% stake in Australia's largest listed bulk grain handler, Reuters reported.

Lack of interest caused ADM to cancel the sale process, two sources told the media outlet.

Lazard was advising on the sale, but a buyer could not be found for the entire stake, and interested parties were only keen to buy at around $8 (Australian) per share (

All access premium subscription

This content requires a subscription to Feedstuffs in order to access. If you are a paid subscriber, use your email and password to Log In now.

Current Feedstuffs Subscribers: Online and mobile access are now included at no charge to you. To read this article, use your subscriber email and password to log-in to your account (or contact us for assistance in updating your account.)

Not Currently a Subscriber: Subscribe NOW to Feedstuffs and receive our print and/or digital publications, enewsletters and premium online content. Visit and click on Subscribe at the top of the page for more information.



Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.