Original article by Sue Neales, Gretchen Friemann
The Australian – Page: 19 & 23 : 27-Jul-16

There has been a lukewarm response to the offmarket sale of Archer Daniels Midland’s 19.85 per cent stake in Australian-listed GrainCorp. ADM failed to attract interest in the shareholding when it was offered via Lazard on 26 July 2016. The Federal Government blocked ADM’s takeover bid for GrainCorp in late 2013, ruling that the deal was not in the national interest. ADM’s move to divest its stake may have been prompted by the Government’s continued tough stance on foreign ownership of agricultural assets, particularly given the National Party’s increased influence in cabinet following the federal election.

CORPORATES
GRAINCORP LIMITED – ASX GNC, ARCHER DANIELS MIDLAND COMPANY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, SHANGHAI PENGXIN GROUP COMPANY LIMITED, S KIDMAN AND COMPANY PTY LTD, LAZARD PTY LTD, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, CBH LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD