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