Louis Dreyfus owner to settle Credit Suisse debt with ADQ deal -Bilanz

PARIS, Nov 30 (Reuters) – Margarita Louis-Dreyfus, main shareholder of commodities merchant Louis Dreyfus Company (LDC), will use some proceeds from a deal with Abu Dhabi’s ADQ to settle a $1 billion debt with Credit Suisse, she told Swiss business magazine Bilanz.

LDC this month announced that it had agreed the sale of a 45% stake to state-owned investor ADQ for an undisclosed sum, opening up the family-owned group’s capital for the first time in its 169-year-old history.

LDC specified that at least $800 million of the proceeds would go towards a $1 billion loan the group made to bail out Brazilian sugar firm Biosev. It did not refer to a separate $1 billion loan taken from Credit Suisse by Margarita Louis-Dreyfus’s Akira family trust.

“Part of this (ADQ) transaction is planned for the settlement of the debt,” she was quoted as saying, referring to the Credit Suisse loan, in

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