ADM Completes Acquisition of Elstar Oils
December 15 2011 - 6:08AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) announced today that
the Polish Office of Competition and Consumer Protection has
approved the purchase of Elstar Oils S.A., by Archer Daniels
Midland Nederland B.V., giving ADM operational control of the
company. Additionally, yesterday Archer Daniels Midland Nederland
B.V. acquired the remaining 2.26 percent of Elstar Oils shares, and
now owns 100 percent of this company.
“Achieving operational control of Elstar Oils is an important
step in ADM’s strategy to acquire and consolidate existing oilseed
processing, food manufacturing and biodiesel capabilities
in this growing origination and consumer market,” said Brent
Fenton, president, ADM Europe. “Elstar’s facilities are ideally
located to complement and expand our ownership in the Eastern
Europe region.”
Elstar, located in northern Poland, operates a rapeseed
crushing, refining, solid-fat packaging and oil bottling facility
in Czernin and a fully-automated biodiesel facility in Malbork.
On August 13, ADM announced the signing of an agreement to
purchase a majority share of Elstar. The company launched the
public tender offer for all the shares of Elstar on August 16. ADM
plans to delist Elstar from the Warsaw Stock Exchange.
Antitrust authorities in Austria, Germany, the Slovak Republic
and Ukraine have also approved the sale.
ADM’s other operations in Poland include an oilseeds crushing
and refining facility in Szamotuly that refines and bottles retail
vegetable oils; country elevators in Slawa Wielkopolska and
Chroscin; an import and export terminal owned as part of a joint
venture in the port of Gdynia, where a new grain warehouse to
expand capacity is planned; and a joint venture with Princes to
expand the distribution of bottled vegetable oils.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
vital needs. Today, 30,000 ADM employees around the globe convert
oilseeds, corn, wheat and cocoa into products for food, animal
feed, chemical and energy uses. With more than 265 processing
plants, 400 crop procurement facilities, and the world’s premier
crop transportation network, ADM helps connect the harvest to the
home in more than 160 countries. For more information about ADM and
its products, visit www.adm.com.
This publication is for promotional purposes only and under no
circumstances shall constitute or form part of, and should not be
construed as, any offer for purchase of, or solicitation of any
offer to sell, any securities of Elstar Oils S.A. by Archer Daniels
Midland Nederland B.V.
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