Chinese transformation completed for Louis Dreyfus Company Metals
Following the completion of its sale to investment fund NCCL earlier announced, the trading company becomes IXM
Following the completion of its sale to NCCL Natural Resources Investment Fund earlier this month, global merchant Louis Dreyfus Company Metals announced it changed its name into IXM, while entire executive team remains unchanged.
The transaction, announced in December 2017, has now been successfully completed following satisfaction of customary conditions including regulatory approvals, with a final purchase price of 466 million USD.
“Together with our new shareholder, we have the opportunity to grow and expand our business in a way that assures continuity and a smooth transition, but also benefits our suppliers, customers, and service providers. Our global teams are committed to deliver the same high quality of service that our client base have come to expect” Paul Akroyd, who will continue as IXM Chief Executive Officer, said.
The Roman numeral IX was the inspiration for the new brand identity - in fact number 9 in many cultures signifies good fortune, and in Chinese culture is associated with longevity and long-term success – whereas M of course stands for metals, the company’s core commodity.
NCCL Natural Resources Investment Fund is an investment fund managed by New China Capital Legend as general partner, with two limited partners of AXAM Asset Management, a Chinese domestic asset management firm based in Shenzhen. and China Molybdenum Co., Ltd. (CMOC), an international diversified mining company listed on Hong Kong and Shanghai Stock Exchanges.
“We are confident that the Metals business will continue to thrive and grow with the existing management team, under new ownership” commented Gonzalo Ramírez Martiarena, Chief Executive Officer of Louis Dreyfus Company.