Abu Dhabi's ADQ eyes around $1 billion loan to back Louis Dreyfus deal: sources | Reuters
Abu Dhabi state-owned ADQ is in talks with banks for a loan of about $1 billion that would back its acquisition of a 45% stake in commodities trader Louis Dreyfus Co (LDC), three sources said.
ADQ said last week it had signed an agreement to acquire an indirect 45% equity stake in LDC, in what would be the first outside investment in the family-owned commodity merchant’s 169-year-old history.
ADQ has been in talks with a group of lenders including Abu Dhabi and European banks for a loan of up to around $1 billion to back the proposed acquisition, two of the sources said.
Discussions have revolved around the structure of the financing, with the company initially looking to raise the loan on a non-recourse basis, said the two sources.
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