CHICAGO, April 15 Archer Daniels Midland Co
on Tuesday said it will move ahead with attempts to sell
its global chocolate business after extensive negotiations to
sell its chocolate and cocoa operations fell apart.
ADM said it will retain most of its cocoa press operations,
while selling the chocolate business.
Cargill last year was in the final stage of a deal to buy
ADM's cocoa business, people familiar with the discussions said.
ADM and Cargill make up part of a group of companies known
as the "ABCD" that dominate the flow of agricultural commodities
around the world. The other two are Bunge Ltd and Louis
Separately, ADM said it will acquire the remaining 20
percent stake of grain trader Alfred C. Toepfer International
for 83 million euros. Since 2002, ADM has owned 80 percent of
Toepfer; Union InVivo has held the remaining 20 percent since
ADM struck a deal to sell its fertilizer business in Brazil
and Paraguay to Mosaic Co for $350 million.
(Reporting by Tom Polansek; Editing by Leslie Adler)