Louis Dreyfus Company Holdings has closed the previously announced sale of an indirect 45% stake in Louis Dreyfus Company B.V. (LDC), a Dutch agricultural commodities merchant, to ADQ, an Abu Dhabi-based holding company.

The deal was announced by the food and agricultural commodity group in November 2020.

As part of the deal, Louis Dreyfus had also entered into a long-term commercial supply agreement with ADQ for selling agri-commodities to the UAE.

Margarita Louis-Dreyfus — Chairperson of the Supervisory Board of Louis Dreyfus said: “The transaction completed represents the start of a new chapter for LDC, as we welcome ADQ into our shareholder group and initiate a new phase of growth for the company, guided by a shared vision for LDC’s future.”

Louis Dreyfus said that a part of the proceeds from the deal has been invested into the company in the form of an early and full repayment of an intragroup long-term loan of $1.05bn granted by it to its parent company, originally maturing in 2023.

The agricultural commodities merchant said that the funds will support the company in pursuing its long-term business plan and strategy.

Michael Gelchie — Louis Dreyfus Group CEO said: “This partnership with ADQ reinforces LDC’s position and financial strength to accelerate strategic investments as part of our growth plans and ambitions, including in new areas such as plant-based proteins, as well as in projects to move further downstream in several of our existing business lines.

“I look forward to continuing to work alongside the Supervisory Board to advance our shared ambitions for investment in innovations and technologies that can transform food and agricultural production sustainably, building on LDC’s leading position in core merchandizing activities and strong performance in 2020.”

  ADQ, Agriculture news, Louis Dreyfus Company, Louis Dreyfus Company Holdings, Margarita Louis-Dreyfus, Michael Gelchie, Netherlands, The Netherlands, UAE