June 15, 2016 / 10:00 AM / 3 years ago

Commodities trader ADM to raise stake in Singapore's Wilmar

SINGAPORE, June 15 (Reuters) - Commodities trader Archer Daniels Midland Co (ADM) is raising its stake in Singapore’s Wilmar International Ltd to about 22 percent for about S$428.8 million ($316.6 million), according to a stock exchange filing.

ADM agreed to buy about 127 million shares at S$3.3765 per share, the exchange filing late on Tuesday showed. ADM held about a 20 percent stake before the transaction.

The shares are being sold by a firm linked to Wilmar’s Executive Deputy Chairman Martua Sitorus.

$1 = 1.3543 Singapore dollars Reporting By Aradhana Aravindan; Editing by Sunil Nair

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