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PARIS, March 26 (Reuters) - Margarita Louis-Dreyfus’s family trust Akira has raised its stake in holding company Louis Dreyfus to 80 percent from about 65 percent previously, she said on Thursday.
Louis Dreyfus owns 85 percent of Louis Dreyfus Commodities B.V., which reported a rise in full-year profit on Thursday, with increased volumes and healthy processing margins helping to offset lower market prices.
The “D” of the so-called ABCD majors that dominate agricultural commodities — alongside Archer Daniels Midland , Bunge and Cargill — is also developing a presence in metals.
“Eighty percent is a very good number to ensure the stability of the group through family control,” Margarita Louis-Dreyfus, who inherited control of the 164-year-old company when her husband Robert died in 2009, told reporters.
“To gain this super-majority was important. In June the transaction will be closed and we can concentrate on the business.”
She declined to disclose the value of purchase, which followed the exercising of sell options by minority shareholders.
Louis Dreyfus is in the midst of a corporate shake-up and has been searching since last year for a new chief executive to lead the trading house into a potential stock market listing or merger deal.
Margarita Louis-Dreyfus said the search for the vacant CEO post is continuing, with a focus on finding someone who fitted the group’s values. (Reporting by Gus Trompiz; Writing by Sybille de La Hamaide; Editing by David Goodman)