November 7, 2018 / 1:41 PM / 9 days ago

Louis Dreyfus' main shareholder gets financing to buy out minorities

PARIS, Nov 7 (Reuters) - Margarita Louis-Dreyfus, the majority shareholder of agricultural commodity trader Louis Dreyfus Company (LDC), said on Wednesday she had completed arrangements to finance a requirement to buy shares from minority shareholders.

Minority family shareholders had requested in 2015 to sell 16.6 percent of LDC’s holding company to Margarita Louis-Dreyfus’ Akira trust, in a buyout estimated at $800-$900 million.

“I am very pleased to have completed this process, reconfirming my commitment to safeguarding the Louis-Dreyfus heritage and shaping its long-term future,” she said in a statement, without giving details of the financing.

She reiterated she would “keep all options open in terms of strategic partnerships, if appropriate for the business” to support LDC’s growth.

LDC does not intend to depart from its long-standing dividend practice, consisting of a payout of up to 50 percent of net earnings and ad hoc special dividends related to strategic divestments, she added in the statement. (Reporting by Gus Trompiz; Editing by Sudip Kar-Gupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below