December 1, 2016 / 10:10 PM / 9 months ago

ADM sells its stake in Australia's GrainCorp

Dec 1 (Reuters) - U.S. agricultural commodities trader Archer Daniels Midland Co has sold its 19.9 percent stake in Australian grain handler GrainCorp Ltd to underwriters UBS, the company said on Thursday.

The sale to the Swiss bank was valued at A$387 million ($286.92 million), or A$8.53 a share, ADM said. ($1 = 1.3488 Australian dollars) (Reporting by Karl Plume in Chicago; Editing by Dan Grebler)

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