— LDAP

FFP formed a partnership with the family-owned group Louis Dreyfus Armateurs (LDA) to found LDAP. LDA is a French maritime group that has been operating for more than 160 years in carrying dry bulk by sea and in providing maritime industrial services. LDAP, a company in which the FFP group holds a 45% stake (via its wholly owned subsidiary FFP Invest), purchased 5 new Handysize freighters. They are of B-Delta 40 design, an innovative, fuel-efficient model. Most of the vessels were delivered in the second half of 2015.

This fleet is managed by LDA, which is in charge of its fit-out and commercial operation.

 https://www.lda.fr
 
As at Dec 31, 2018

Stake in LDAP

45.0%

Investment date

2013

FFP's investment

At 31 December 2018, the FFP group (via its wholly owned subsidiary FFP Invest) held a 45% equity interest in LDAP.

FFP has invested a total of $24 million. FFP Invest is party to a shareholder agreement.

FFP Invest, represented by Bertrand Finet and Mme Sophie Vernier-Reiffers, is a member of LDAP’s Executive Committee.