In Illinois, Archer Daniels Midland Company sold its Crop Risk Services business to Validus Holdings, Ltd. for $127.5 million. The deal includes a marketing services agreement under which ADM and Validus will work together to continue to offer a full range of insurance and farmer marketing products and services to CRS customers.
Validus, a global provider of insurance, reinsurance and investment services, is committed to keeping the CRS business intact, including maintaining its operations in Decatur. The sale is subject to regulatory review and is expected to close in the first half of 2017. Nearly all ADM CRS employees will transfer with the CRS business at closing.
This transaction allowed ADM to find a better strategic fit for CRS while maintaining a high quality of service for its customers. ADM will continue to offer crop insurance products and grain marketing services to customers through Validus and benefit from capital re-deployment.