Louis Dreyfus to sell grain elevator company in Russia
2.12.2024 - 11:22
Russian President approves sale of Louis Dreyfus grain elevator company in Russia to unnamed buyer.
Russian President Vladimir Putin has approved the acquisition of 100% of the shares of the Louis Dreyfus Company (LDC) grain elevator company by an unnamed buyer, Reuters reports.
A source in the agricultural markets named Bio-Ton, one of the largest sunflower producers in Russia, as a possible buyer.
LDC stopped exporting Russian grain on July 1, 2023, and said it was evaluating options for transferring its existing Russian business and grain assets to new owners.
Dozens of Western companies have sold assets or left the Russian market since Russia began a full-scale invasion of Ukraine. Deals in the financial and energy sectors require presidential approval.
Other international grain traders, such as Cargill and Viterra, have scaled back operations in Russia since the invasion.
