The company is in talks to sell its cocoa business in the country.
“Consistent with our commitment to create shareholder value, we regularly evaluate strategic options and maintain on-going dialogue with other agribusiness companies to explore opportunities.
“We are currently engaged in discussions about the potential sale of our cocoa business. These discussions are on-going, and there can be no assurance that they will result in the signing of a transaction or definitive agreement. We will communicate further if appropriate,” said Jackie Anderson, spokesperson for ADM in a statement copied to this reporter.
Although the possible buyer is not known, industry sources say ADM is looking to sell the business for about $2 billion. The cocoa business accounts for 4 per cent of the ADM’s revenue, or $3.7 billion.
The company launched its Ghana plant in October in Kumasi, raising the world’s second largest cocoa grower grinding capacity by nearly 10 per cent to 350,000 tonnes.
The facility comprised a bean warehouse, a processing plant and a finished goods warehouse which sit on a 75,000 square-metre site. It processes cocoa beans into cocoa liquor for use in chocolate.
ADM is one of the world’s largest cocoa and chocolate manufactures, with cocoa-processing plants in Europe, Africa, North America, South America and Asia.
By Michael Sarpong Bruce