Minerva to file new appeal in Uruguay to purchase Marfrig assets

Minerva Foods announced last Wednesday (Oct 30) that it plans to file a new appeal in the coming days regarding its acquisition of Marfrig’s assets in Uruguay.

In a statement, the company declared that it had been informed of the decision taken by Uruguay’s competition authority, Coprodec, to uphold its veto of the transaction despite an initial appeal filed by Minerva.

“The company underlines that Coprodec’s decision is not yet final and remains subject to further appeal both administratively, directed to Uruguay’s Ministry of Economy and Finance, and judicially,” Minerva noted.

Minerva also clarified that Coprodec’s ruling is limited to the Uruguayan operations and does not impact the acquisition of Marfrig’s industrial and commercial facilities in Brazil, Argentina, and Chile. That transaction was finalized on Monday (Oct 28), with Minerva completing a payment of R$5.68 billion for these assets.

Source: Globo Rural

Click here to read the original article: https://globorural.globo.com/negocios/noticia/2024/10/minerva-vai-entrar-com-novo-recurso-no-uruguai-para-compra-de-ativos-da-marfrig.ghtml

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