Cargill said on Tuesday it has agreed to sell its Venezuela unit to a group of investors represented by Phoenix Global Investment and Grupo Puig, reports Nasdaq.
The sale affects all of Cargill's activities in the country, including plants that produce flour, pasta, cooking oil and animal feed, the company said in a statement.
"The sale seeks to ensure the continuity of operations in the country (and) access to quality goods and services that the company has provided over 34 years in Venezuela," Cargill said in a statement.
Cargill did not disclose financial details of the transaction.
