Brazil's Marfrig builds 31.66% stake in BRF

 

Reporting by Gram Slattery and Paula Laier; editing by Jonathan Oatis, Reuters

June 3, 2021

 

SAO PAULO (Reuters) - Brazilian meat processor Marfrig Global Foods SA has acquired 31.66% of pork and poultry producer BRF’s capital stock, it said in a securities filing on Thursday, reaffirming that its stake is merely passive.

 

In recent weeks, Marfrig has been buying up BRF SA shares in open market transactions. It has said the move is meant to diversify its holdings and that it does not intend to make changes to BRF’s management or strategy.

 

“Marfrig reaffirms that the acquisition of the aforementioned stake is aimed at diversifying investments in a segment that complements its industry,” the company said in the filing.

 

On Wednesday...

 

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https://www.reuters.com/article/us-brf-m-a-marfrig/brazils-marfrig-builds-3166-stake-in-brf-idUSKCN2DF1LV