(Corrects to two days from one day in paragraph 2)
PARIS, April 17 French cooperative group InVivo
said it would strengthen ties with agricultural trading house
Archer Daniels Midland through their British joint
venture - grain trader Gleadell.
The announcement came two days after ADM, the "A" of a group
of companies known as the "ABCD" that dominate global
agricultural commodities trading, said it would buy InVivo's 20
percent stake in German grain trader Alfred C. Toepfer
International for 83 million euros ($115 million).
"This transfer is accompanied by a strengthening of the
strategic and operational partnership between the two companies,
which each hold 50 percent of Gleadell, a major operator on the
British grain market," InVivo said in a statement on Thursday.
InVivo, a grouping of more than 200 farmer-owned
cooperatives, declined to provide further details on exactly how
the two companies would strengthen their ties in Gleadell.
InVivo's chief executive said last year the two companies
were considering developing operational ties in grain trading to
increase their clout in volatile and highly competitive
Gleadell is the third-largest grain buyer in Britain,
trading over 2 million tonnes of grain per year, and a major
supplier of seeds and fertiliser. It has been jointly owned by
Toepfer and InVivo since 2001, according to its website.
(Reporting by Sybille de La Hamaide; with reporting by Valerie
Parent; editing by Jane Baird)