LONDON Feb 18 Louis Dreyfus Commodities
has bought Belgian warehousing company Ilomar Holding
N.V., the company said in a statement.
Ilomar's businesses include Antwerp-based coffee and cocoa
warehouse 4STOX NV, formerly known as Port Real Estate NV.
Terms of the sale were not disclosed.
The acquisition comes at a time when NYSE Liffe has
revised its cocoa and coffee grading and storage rules to impose
limits on how long warehouses can charge rent when delivery or
transfer of stock is delayed, after complaints over storage
rents and load-out rates.
Delays to the delivery of certified coffee out of 4STOX NV
triggered complaints by trade houses Armajaro and Sucre Export
SA, culminating in the Competition Council of Belgium ordering
the warehouse to maintain a minimum volume of loading out in May
In addition to Belgium, the group has branches in Spain
(Barcelona), Vietnam (Ho Chi Minh) and the US (New York).
Beyond coffee and cocoa, goods also include tea, ferrous and
non ferrous metals.