Louis Dreyfus confirms strategic partnership with Felda Global

KUALA LUMPUR: Louis Dreyfus Commodities Asia (LDCA) has confirmed it would be a strategic partner with Felda Global Ventures Holding Bhd (FGVH).
It said on Friday it had "reached final agreement" with FGVH "on the terms of their strategic partnership".
LDCA
said all the necessary approvals from LDCA have been granted and that
the final agreement was still subject to approval from the board of
directors for FGV's subsidiaries. To recap, an MoU was signed last
month for LDCA to be a strategic investor and partner to enhance the
marketing and trading of FGV's palm oil business. "In acknowledgment of
the strong result of the bookbuilding and demand for the FGVH offering,
LDCA may reduce its participation in the enlarged issued and paid-up
share capital," it said. Under the strategic partnership, both partners
would be able to tap each other's strengths to create a major
integrated player.
This would see them leveraging on FGV in its
upstream and midstream activities and LDCA in its marketing and
downstream capabilities.