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Supply Chain

Louis Dreyfus To Sell Big Stake To Abu Dhabi Fund After Investor Hunt

By Dayeeta Das
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Louis Dreyfus To Sell Big Stake To Abu Dhabi Fund After Investor Hunt

Louis Dreyfus Company has agreed to sell a large stake to Abu Dhabi-based holding company ADQ, ending chairwoman Margarita Louis-Dreyfus' long search for a new investor in the 169-year old commodity merchant.

The main Louis Dreyfus Company Holdings B.V. business will sell an indirect 45% equity stake in the Louis Dreyfus Company B.V. (LDC) unit to ADQ, the companies said in a joint statement.

The transaction price was not disclosed, but the companies said a minimum of $800 million (€678.5 million) will be invested into LDC.

'A Common Vision'

"We are delighted to welcome ADQ to our shareholder group as long-term partners and investors, with a common vision for LDC's future, and experience that will bring further value to the business and support the group's ambition," said company chairwoman Margarita Louis-Dreyfus.

The agreement with Louis Dreyfus will also see ADQ sell agricultural commodities to the United Arab Emirates, the companies said.

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Louis Dreyfus is one of the so-called 'ABCD' quartet of the world's leading commodity trading houses, along with Archer Daniels Midland Co, Bunge Ltd and Cargill.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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