To learn more about agribusiness in Ukraine, follow us on Facebook, on our channel in Telegram, and subscribe to our newsletter.
Louis Dreyfus in talks with Abu Dhabi’s ADQ over stake acquisition
Louis Dreyfus Co., the storied agricultural trader controlled by billionaire Margarita Louis-Dreyfus, is in talks to sell a stake in the firm to Abu Dhabi sovereign wealth fund ADQ, potentially opening the family company to outside ownership for the first time in its 169-year history, Bloomberg writes.
As reported, a successful deal would give the trading house an injection of much-needed cash as its controlling shareholder seeks funds to pay down loans, according to people familiar with the talks.
For ADQ, formerly known as Abu Dhabi Development Holding Co., acquiring a minority stake in one of the four largest traders of grains, oilseeds and sugar could boost food security for the United Arab Emirates, amid concerns brought on by disruptions caused by the coronavirus pandemic.
The talks are ongoing, a deal has yet to be finalized and the discussions could still fail, the people said, asking not to be named because the information was private.
Previously reported that LDC Ukraine revenue in 2019 totalled UAH 8.97 bln, profit UAH 289.06 mln.