Louis Dreyfus chair owes Credit Suisse $240 mln after ADQ deal | Reuters
Margarita Louis-Dreyfus, chairperson and main shareholder of Louis Dreyfus Company, borrowed about $240 million from Credit Suisse (CSGN.S) in a reduced loan arrangement following the sale of a stake in LDC, an annual company report showed.
Louis-Dreyfus told Swiss business magazine Bilanz in late 2020 she planned to use the proceeds of the sale of a 45% stake in LDC to Abu Dhabi investment firm ADQ to settle a $1 billion loan from Credit Suisse, taken in early 2019 to buy out minority family shareholders.
The overall value of the deal with ADQ - which became the first outside investor in the 170-year-old commodity merchant controlled by Louis-Dreyfus via the Akira trust - has not been disclosed. LDC later announced it had allowed the repayment of a separate $1.051 billion loan that it had granted to its parent company. read more
Akira's 2020 report filed last week showed the trust owed Credit Suisse $718.4 million of the original loan at the end of 2020, of which a further $50 million was repaid in May 2021.
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