Louis-Dreyfus opens to outside investment for first time with Abu Dhabi deal
ADQ acquiring minority stake in one of the world's four largest traders of grains, oilseeds and sugar will help boost food security for the United Arab Emirates
11 November 2020 - 18:32
Billionaire Margarita Louis-Dreyfus agreed to sell a 45% stake in the eponymous agricultural trader to an Abu Dhabi sovereign wealth fund, opening the storied family business to outside ownership for the first time to secure desperately needed cash for its owner.
Louis-Dreyfus, who controls more than 96% of the holding company that owns LDC, has been scrambling to raise funds after borrowing about $1bn to buy out other family members and pledging some of her shares in the family business as collateral...
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