ADQ, one of the region\u2019s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi\u2019s diversified economy, announced today that it has signed an agreement to acquirean indirect45 percentequity stake in Louis Dreyfus Company B.V. (LDC), a leading global merchant and processor of agricultural goods. As part of this transaction, LDC also signed a long-term commercial supply agreement with ADQ for the sale of agri-commodities to the United Arab Emirates (UAE).<\/p>\n\n\n\n
As one of the world\u2019s top global players in the agri-commodities sector, LDC is engaged insourcing, processing, storing, transporting and merchandising agricultural commodities worldwide, thanks toits diversified portfolio and global presence. LDC posted net sales of US$16.3 billion and EBITDA from continuing operations of US$634 million for the first half of 2020.<\/p>\n\n\n\n
Upon completion of the transaction, a portion of itsproceeds amounting to a minimum of US$800 million will be invested into LDC to support the pursuit of the company\u2019s long-term business plan and strategy, including the acceleration of strategic investments across the value chain, as the company evolves from its traditional role as an agri-commodities merchant to become an increasingly vertically integrated food, feed, fibres and ingredients company. Completion of the agreement is subject to customary closing conditions, including regulatory approvals.<\/p>\n\n\n\n
H.E. Mohamed Hassan Alsuwaidi, CEO of ADQ<\/strong>, said: \u201cFood and agricultureis an attractive, coresector for ADQ to generate financial returns and strengthen the economic cluster locally. As one of the world\u2019s leading agri-commodities and food companies, LDC represents a strategic investment opportunity for ADQ.With a diversified agri-commodity portfolio, significant scale and broad geographic footprint, LDC will further accelerate the progress we have already made this year in significantly expanding ADQ\u2019s food and agriculture portfolio.\u201d<\/p>\n\n\n\n His Excellency<\/strong> added: \u201cWe share LDC\u2019s vision for future growth of the business, and look forward to partnering with LDC\u2019sexisting shareholders and management team to capitalise onthe sector\u2019s emerging opportunities by accelerating LDC\u2019s transformative growth strategyto move towards greater value chain integration \u2013 from producers to consumers<\/a>.\u201d<\/p>\n\n\n\n Margarita Louis-Dreyfus, Chairperson of the Supervisory Board of Louis Dreyfus Company Holdings B.V.<\/strong>, commented: \u201cThe transaction announced today constitutes a milestone in a decade-long strategy envisioned by the Supervisory Board, which started with the consolidation of LDC\u2019s parent company\u2019s shareholding. We are delighted to welcome ADQ to our shareholder group as long-term partners and investors, with a common vision for LDC\u2019s future,and experience that will bring further value to the business and support the Group\u2019s ambitions.\u201d<\/p>\n\n\n\n Ms. Louis-Dreyfus<\/strong>, added: \u201cLDC will continue to leverage its core historic capabilities to efficiently analyze and capture opportunities in a rapidly changing context, while pursuing our vision to shape resilient global food supply chains, guided by our purpose to create fair and sustainable value for the benefit of current and future generations. As we embark on the next stage of LDC\u2019s development, we look forward to working with ADQ toward the realization of that shared vision.\u201d<\/p>\n\n\n\n The investment in LDC further strengthens ADQ\u2019s food and agriculture portfolio including Silal, which aims to diversify food sources and increase locally grown, raised and manufactured food;Agthia, which is one of the region\u2019s leading food and beverages companies; and Al Foah, which specialises in date production and processing. Earlier this year, ADQ also signed an agreement to acquire a 50 percent of Al Dahra Holdings, a multinational agribusiness leader that specializes in animal feed and essential food commodities.<\/p>\n","protected":false},"excerpt":{"rendered":" ADQ, one of the region\u2019s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi\u2019s diversified economy, announced today that it has signed an agreement to acquirean indirect45 percentequity stake in Louis Dreyfus Company B.V. (LDC), a leading global merchant and processor of agricultural goods. 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