Louis Dreyfus to sell big stake to Abu Dhabi fund after investor hunt

[PARIS] 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 BV business will sell an indirect 45 per cent equity stake in the Louis Dreyfus Company BV (LDC) unit to ADQ, the companies said in a joint statement.

The transaction price was not disclosed but the companies said a minimum of US$800 million will be invested into LDC.

"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 to 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, Bunge and Cargill.

REUTERS