05.10.2012 - A sea change in commodity trading
Commodity traders are bidding adieu to the good old days. The industry is racing to diversify its sources of funding and shed non-core assets. Itís like Goldman Sachsís decision to go public in 1999 Ė a change in the business model. Louis Dreyfus is typical. The family-owned French commodity dealer tapped the public debt markets for the first time in its 160-year history last month, raising $350-million (U.S.) to help fund new acquisitions. On Oct. 4, Dreyfus sold its energy trading arm. It will use the proceeds to help with its $70-billion spending plan over the next five years, according to the Financial Times...............................................Full Article: Source
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