Giant commodities trader Louis Dreyfus Company has engaged Citigroup to seek an outside investor for its metals unit,
the
Financial Times
reported.
LDC Metals is the world’s third largest trader of copper, zinc and lead concentrate, the report noted.
The 166-year-old company has also received inquiries from potential partners in its orange juice unit, the article said.
Louis Dreyfus Company, led by Margarita Louis-Dreyfus, faces challenges in its main agricultural markets. Its new strategy is to find partners in its metals, dairy, fertilizer and orange units so it can focus on trading grain, oilseed, coffee, sugar and other agricultural operations, according to the report.
Selling a stake in the metals business could help finance expansion of the unit and also free up capital for the company to invest elsewhere, the report said. (Source:
Financial Times
, June 29, 2017.)
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