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PARIS, Nov 11 (Reuters) - 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 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 Co, Bunge Ltd and Cargill .
Reporting by Gus Trompiz, Sudip Kar-Gupta and Soumyajit Saha, editing by Louise Heavens
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