Global agribusiness giant Louis Dreyfus Company Holdings (LDC) announced on 10 September that it had completed the sale of an indirect 45% equity stake in the company to Abu Dhabi-based holding company ADQ for an undisclosed sum.

The deal, announced last November, marks the first time in the private company’s 170 year history that it will operate with ownership outside the family, according to World Grain.

“The transaction completed today represents the start of a new chapter for LDC, as we welcome ADQ into our shareholder group and initiate a new phase of growth for the company, guided by a shared vision for LDC’s future,” said Margarita Louis-Dreyfus, chairperson of the supervisory board.

A portion of the transaction proceeds had been invested into the company, according to the statement.

“This partnership with ADQ reinforces LDC’s position and financial strength to accelerate strategic investments as part of our growth plans and ambitions, including in new areas such as plant-based proteins, as well as in projects to move further downstream in several of our existing business lines,” LDC’s Group CEO Michael Gelchie said.

ADQ’s portfolio covers multiple sectors, including food and agriculture.

LDC is active in over 100 countries and its business covers grains and oilseeds, coffee, cotton, juice, rice, sugar and freight.