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Louis Dreyfus closes US$466M sale of metals unit to Chinese fund

Louis Dreyfus Co. BV closed the sale of its metals trading unit Louis Dreyfus Co. Metals BV to China's NCCL Natural Resources Investment Fund for US$466 million, Reuters reported May 11.

Units of China Molybdenum Co. Ltd. and New China Capital International Management Ltd. own NCCL Natural Resources.

NCCL Natural Resources announced the transaction in December 2017, without disclosing details.

The Louis Dreyfus unit is one of the largest global traders of copper, zinc and lead concentrates.

Paul Akroyd, CEO of Louis Dreyfus' metals business, said a new name for the business will be announced soon.

According to previous reports, the Dreyfus business attracted interest from several potential buyers, including mining giant Anglo American PLC, Chinese conglomerate HNA Holding Group Co. and Swiss steel trader Duferco.