SINGAPORE – Archer Daniels Midland Co. (ADM) has increased its share in Wilmar International, spending S$129 million on 40 million shares, according to a filing on the Singapore Exchange.
ADM’s stake in Wilmar increased to 24.9% from 24.3%. The company has been steadily increasing shares in Wilmar over the last few years.
ADM paid S$3.2257 per share, and purchased them from Martua Sitorus, Wilmar’s co-founder and former executive deputy chairman.
Wilmar has assets in soy crushing, edible oil refining and packaging, palm plantations, palm refineries, biodiesel production, specialty fats and oleochemical fatty acids throughout Asia.