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