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 told Reuters.
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.
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 sources.
