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.
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.