(Bloomberg) — Billionaire Margarita Louis-Dreyfus agreed to sell a 45% stake in the eponymous agricultural trader to an Abu Dhabi sovereign wealth fund, opening the storied family business to outside ownership for the first time to secure desperately needed cash for its owner.Louis-Dreyfus, who controls more than 96% of the holding company that owns LDC, has been scrambling to raise funds after borrowing about $1 billion to buy out other family members and pledging some of her shares in the family business as collateral.The agreement with ADQ should reduce some pressure from lenders including Credit Suisse Group AG. Until now, …read more
Source:: Yahoo Finance
