Archer Daniels Midland Co. (ADM) announced March 31 that it has reached an agreement to sell its sugarcane ethanol operations in Limeira do Oeste, in the state of Minas Gerais, Brazil, to JFLim Participações S.A.
“We regularly review our asset portfolio to determine how best to maximize shareholder returns, and in this case, we have determined that our sugarcane ethanol operations in Brazil are unlikely to meet our long-term returns objectives,” said Chris Cuddy, president of ADM’s
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