BRF sells stake in Singaporean company
Sep, 06, 2019 Posted by Sylvia SchandertWeek 201937
BRF sold all its stake in SATS BRF Food PTE, a partner company that develops food processing and distribution activities in Singapore and the region.
As a result, BRF will receive the equivalent of R$51m for its 49% stake in the joint venture. A new trade agreement has also been signed, so that the distribution and licensing of BRF-owned brands in the region is maintained.
The operation is part of the Operational and Financial Restructuring Plan, initiated by BRF on June 29, 2018, which aims to accelerate the company’s financial deleveraging process, as well as focus on its key markets, which are Brazilian market, the Halal market, and the Asian market.
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