Jenner & Block is representing Archer Daniels Midland Company (ADM) in its sale of its global cocoa business to Singapore-based Olam International Limited for $1.3 billion, subject to customary adjustments. The agreement was signed and announced on December 15, 2014.
The sale encompasses ADM’s entire global cocoa business, including processing facilities in Mississauga, Canada; Koog aan de Zaan and Wormer, Netherlands; Mannheim, Germany; Ilhéus, Brazil; Abidjan, Côte d’Ivoire; Kumasi, Ghana; and Singapore. Also included are ADM’s buying stations in Brazil, Cameroon, Côte d’Ivoire and Indonesia, as well as the company’s deZaan and UNICAO brands. The majority of the approximately 1,550 employees in ADM’s cocoa business will transfer to Olam in the sale. The proposed sale, which is subject to customary regulatory approvals, is expected to close during the second quarter of 2015.
The firm is also representing ADM in the previously announced $440 million sale of its global chocolate business to Cargill, which is not impacted by the transaction with Olam and is progressing as planned.
The multidisciplinary team representing ADM in the matter is led by Partners Joseph P. Gromacki, Mercedes M. Hill and Associate Matthew R. Kopp. Additional key members of the core team are Associates Tamara T. McClatchey, Christopher J. Fisher, Benjamin J. Sauer, Stephen M. Woodcock, Marc A. Roualet and Kyle C. Shires. Partner Adam Petravicius provided transactional IP advice; Partner S. Tony Ling provided benefits advice; Partner Geoffrey M. Davis assisted with tax advice; Partner E. Lynn Grayson and Associate Genevieve J. Essig advised on environmental issues; and Partners Michelle M. McAtee and Donald I. Resnick provided real estate advice.
Source: jenner.com
