Subsequent Events Subsequent Events

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

On April 21, 2015, the Company signed an agreement with Tate and Lyle to purchase several assets of Eaststarch C.V. (Eaststarch), a joint venture in which the Company has a 50% interest. Under the terms of the agreement, the Company will take full ownership of corn wet mills in Bulgaria and Turkey, and will own a 50% stake in a wet mill in Hungary. Tate and Lyle will receive a cash consideration of €240 million, subject to customary closing adjustments, including for net cash and working capital, and take full ownership of the Eaststarch facility in Slovakia. The transaction is subject to regulatory approval in some jurisdictions and is expected to close within the year.

On May 5, 2015, the Company announced further portfolio actions: the construction of a new feed-premix plant in the city of Zhangzhou, in southern China and a new feed plant in Glencoe, Minnesota; an agreement to purchase the remaining ownership interest in two joint ventures, North Star Shipping and Minmetal, which operate in the Romanian Port of Constanta on the Black Sea; and the sale of the Company's lactic acid business.