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Glencore to Buy 50% of ADM Brazil Port, Help Fund Its Expansion

This content was published on February 3, 2015 - 15:44

(Bloomberg) -- Glencore Plc, the Swiss commodities trader, agreed to buy a 50 percent stake in an export terminal in northern Brazil from Archer-Daniels-Midland Co. and help fund its expansion.

Glencore and ADM’s joint venture will quadruple the terminal’s capacity to 6 million metric tons a year, Chicago- based ADM said in an e-mailed statement on Tuesday. The Bacarena terminal in Brazil’s Para state handles agricultural commodities.

To contact the reporter on this story: Shruti Date Singh in Chicago at ssingh28@bloomberg.net To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net Steven Frank

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