Archer Daniels Midland Company acquisition of North Star Shipping and Minmetal

Overview:

• Archer Daniels Midland Company has reached an agreement to acquire North Star Shipping and Minmetal.
• The deal sees ADM take control of the loading terminals at the Port of Constanta on the Black Sea.
• The full asset list consists of: 10 vessel berths, including seven deep sea berths; port terminals; on-site grain storage capacity of 330,000 metric tons; two floating cranes for direct barge-oceangoing vessel transfer; mobile shore cranes and equipment; a vacuum discharge and ship loader; and an iron ore and coal terminal located on 21 hectares.
• ADM is already a shareholder in the two companies.

Sam Duke - Editor