ADM to buy two Romanian grain terminals

by World Grain Staff
Share This:
Search for similar articles by keyword: [ADM]

BUCHAREST, ROMANIA — Archer Daniels Midland Co. has reached an agreement with two Romanian businessmen to take full control of two grain terminals located in the Romanian Black Sea port of Constanta, Bucharest, Romanian-based media reported on March 17.

ADM already owns 22% of one of the terminals, North Star Shipping, and half of the other, Minmetal, according to the financial publication Ziarul Financiar said, quoting market sources.

Romanian businessmen Liviu Ghebaur and Ion Vasile own 53% and 25% of North Star Shipping, respectively. North Star Shipping, in turn, owns the remaining half of Minmental.

The transaction could exceed $95 million, according to the publication’s estimations.

Representatives of ADM and of the port operator declined to comment, Ziarul Financiar said.

The two terminals have storage capacities of 145,000 tonnes and 138,000 tonnes, ranking third and fourth, respectively, among the terminals located at Constanta port, the publication said.

The terminals can handle grains, minerals, fertilizers, vegetable oil or biodiesel.

Partners