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FILE PHOTO: A general view of the Abu Dhabi skyline is seen, December 15, 2009. REUTERS/Ahmed Jadallah
DUBAI (Reuters) - Abu Dhabi’s state-owned ADQ has lined up a small group of banks for a loan of about $1 billion to back its acquisition of a 45% stake in commodities trader Louis Dreyfus Co (LDC), three sources familiar with the matter said.
ADQ said in November 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 history.
The planned acquisition financing will likely be provided by a small group of banks including Emirates NBD, First Abu Dhabi Bank, Intesa Sanpaolo, and Natixis, two of the sources said.
Abu Dhabi's state-owned ADQ has lined up a small group of banks for a loan of about $1 billion to back its acquisition of a 45% stake in commodities trader Louis Dreyfus Co (LDC), three sources familiar with the matter said.