Grain trader Archer Daniels Midland Co (ADM) said on Wednesday it plans to sell shares and bonds in Singapore-based Wilmar International with a combined value of US$800 million ($1.09 billion)

ADM, which is one of Wilmar’s largest shareholders, added that it expects to retain at least a 20% stake in the agribusiness firm.

The company had a 24.6% effective stake in Wilmar as of March 4, according to Refinitiv.

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