Marfrig International Meals lately disclosed that it acquired further shares of BRF, giving it a forty five.0067% stake within the firm.
In line with an announcement to the market that may be discovered on the BRF investor relations webpage, Marfrig now holds 757,225,906 million shares of BRF inventory. The announcement said that the intent of the acquisition was to extend Marfrig’s shareholding in BRF, however that Marfrig doesn’t purpose to change the executive construction of BRF.
The announcement was dated October 16 and signed by BRF Chief Monetary and Investor Relations Officer Fabio Luis Mendes Mariano.
The latest buy of shares comes lower than one month after it was introduced that Marfrig had bought extra BRF shares. On the time, that transaction upped Marfrig’s possession of BRF to a 40.0529% stake.
Each firms are headquartered in Brazil, however each have worldwide operations.
Marfrig’s continued funding in BRF follows feedback made in April by Marcos Antonio Molina dos Santos, who serves as chairman of each firms, revealed {that a} merger between the 2 firms, which he known as “sister firms,” might occur, however not within the close to future.
On the time, the chairman stated, “Each firms have lots of synergies, however, in the intervening time, each is targeted on its enterprise. However now, a very powerful factor is just not taking the main target away from every firm. This 12 months, each will hold targeted on its operations.”
Marfrig and BRF started merger talks in 2019, however each events disclosed about two months later that it was now not underneath dialogue.
Nonetheless, Marfrig started to spend money on BRF in 2021, buying what was on the time 24.23% of the corporate’s shares. It has steadily elevated its stake in BRF ever since.
BRF, in keeping with info from the WATTPoultry.com High Poultry Corporations Survey, is the world’s third largest poultry producer and is additionally a major participant within the pork trade. Marfrig’s major protein is beef, though it beforehand additionally had a presence within the poultry trade because the father or mother firm to Moy Park and Keystone Meals. Marfrig divested of each firms, with Moy Park now owned by Pilgrim’s Satisfaction and Keystone Meals now owned by Tyson Meals.
