October 29, 2013 / 1:41 PM / 4 years ago

ADM has no update on potential sale of cocoa business, CEO says

CHICAGO, Oct 29 (Reuters) - Archer Daniels Midland Co said on Tuesday it had no update for investors about a potential sale of its cocoa business.

“We don’t have any news to report this quarter,” ADM Chief Executive Patricia Woertz told analysts on an earnings call.

Cargill is in the final stages of a deal to buy ADM’s cocoa business, sources familiar with the discussions have said.

ADM started looking for potential suitors for the cocoa business late last year, sources have told Reuters, and the company announced it was in discussions about a possible sale in June.

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