CHICAGO, ILLINOIS, U.S. — Inversiones Piuranas S.A. has reached an agreement to acquire the Bolivian oilseeds operations of Archer Daniels Midland Co. (ADM). Financial terms of the transaction were not disclosed.

ADM said the sale includes its processing facility in Santa Cruz de la Sierra, Brazil, as well as nine grain silos and its Bolivian distribution business.

“We regularly review our portfolio, and the sale of our Bolivian oilseeds operations is part of our long-term growth and transformation strategy,” said Greg Morris, president of ADM’s Oilseeds Processing business unit.

ADM’s oilseeds operations in Bolivia process soybeans and sunflower into oils and protein meal. ADM has approximately 400 employees in Bolivia.

The transaction is expected to close in the first half of 2018. ADM said it will continue to operate its oilseeds business in Bolivia until the transaction is finalized.