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US agribusiness giant Archer Daniels Midland Company has reported that it made $271m from its sale of 27.9 million shares in UK sugar and sweetener firm Tate & Lyle.

The sale produced an after tax gain of $93m ADM said. The gain will be included in its fiscal 2005 3rd quarter results ending March 31, 2005. Tate and Lyle reported the share sale last week.