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China Molybdenum-owned fund acquiring Louis Dreyfus' metals trading unit

China's NCCL Natural Resources Investment Fund agreed to acquire Louis Dreyfus Co. BV's metals trading unit Dreyfus Co. Metals BV, according to a Dec. 26 release.

NCCL Natural Resources is owned by the units of China Molybdenum Co. Ltd. and New China Capital International Management Ltd.

The Louis Dreyfus unit trades base and precious metals in raw and refined form.

The parties did not disclose further details about the transaction, which is expected to close in the first half of 2018, subject to receiving required approvals.