{"id":3012,"date":"2017-12-22T17:16:00","date_gmt":"2017-12-22T15:16:00","guid":{"rendered":"https:\/\/www.ldc.com\/uy\/press-releases\/louis-dreyfus-company-sells-global-metals-business-to-nccl-natural-resources-investment-fund\/"},"modified":"2023-05-11T11:55:31","modified_gmt":"2023-05-11T09:55:31","slug":"louis-dreyfus-company-sells-global-metals-business-to-nccl-natural-resources-investment-fund","status":"publish","type":"press-release","link":"https:\/\/www.ldc.com\/uy\/en\/press-releases\/louis-dreyfus-company-sells-global-metals-business-to-nccl-natural-resources-investment-fund\/","title":{"rendered":"Louis Dreyfus Company Sells Global Metals Business To NCCL Natural Resources Investment Fund"},"content":{"rendered":"\n

ROTTERDAM, THE NETHERLANDS<\/strong>, 22 December 2017 \u2013 Louis Dreyfus Company (LDC) today announced that it has entered an agreement to sell its global Metals business (LDC Metals) to NCCL Natural Resources Investment Fund, managed by New China Capital Legend as general partner, with two limited partners of AXAM Asset Management (\u201cAXAM\u201d) and China Molybdenum Co., Ltd. (\u201cCMOC\u201d). AXAM is a Chinese domestic asset management firm based in Shenzhen. CMOC is an international diversified mining company listed on the Hong Kong and Shanghai Stock Exchanges. The purchase price is US$450,000,000, subject to purchase price adjustments, plus a daily payment in cash at an initial rate of 5% per annum and increasing to up to 10% per annum (applied to the purchase price).<\/p>\n\n\n\n

LDC has been active in the merchandizing of base metals since 2006, providing competitive sourcing and sales solutions for customers around the world, with a presence in all major origination and sales regions, including the China domestic market. Today, LDC Metals originates, consolidates, blends, tolls, transports and merchandizes base and precious metals in raw and refined form. It is considered among the top copper, zinc and lead concentrates merchandizers globally, in addition to its leading position in the refined copper, zinc, aluminum and nickel markets. LDC Metals has more than 250 employees located in 15 countries around the world.<\/p>\n\n\n\n

Gonzalo Ram\u00edrez Martiarena, Chief Executive Officer of Louis Dreyfus Company, said: \u201cThe Metals business has generated significant value for more than a decade, and today\u2019s agreement is a recognition of its solid track record of consistent growth and profitability. We are confident that this acquisition will help LDC Metals expand its activities further and we wish them continued success in the future.  For LDC, this strategic decision enables us to focus more intently on our core business and re-allocate valuable resources.\u201d<\/p>\n\n\n\n

Paul Akroyd, Chief Executive Officer of LDC Metals, said: \u201cThis partnership is a very important milestone for LDC Metals. The investor group is very active in the natural resources field and has ambitious plans for the future, which will allow us to accelerate our growth and to continue to strengthen our relationship with our suppliers and customers. I would like to thank our talented people across the world for their commitment and hard work. They have been instrumental in the success that our business has achieved in the past 11 years, culminating in this positive development.\u201d<\/p>\n\n\n\n

Citibank and ING acted as financial advisors to LDC on the transaction.<\/p>\n\n\n\n

Completion of the agreement is subject to customary closing conditions, and is expected in the first half of 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

ROTTERDAM, THE NETHERLANDS, 22 December 2017 \u2013 Louis Dreyfus Company (LDC) today announced that it has entered an agreement to sell its global Metals business (LDC Metals) to NCCL Natural Resources Investment Fund, managed by New China Capital Legend as general partner, with two limited partners of AXAM Asset Management (\u201cAXAM\u201d) and China Molybdenum Co., Ltd. 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