In a statement the New York-listedcommodities giant said it paid EUR 83m ($114.7m) to acquire the 20% stake itdidn’t already own.

“Theproposed transaction, which is occurring through the exercise of a putagreement by Union InVivo, will be subject to customary regulatory approvals,”it told investors.

ADM says it has owned 80% of Toepfersince 2002 and noted Union InVivo, which describes itself as a French “agriculturalcooperative”, has held the remaining stake for nearly four years.

 “Toepfer