Marfrig expands stake in National Beef

On Sunday (11/17), Marfrig announced to its shareholders and the market that, through its fully owned subsidiary, NBM US Holdings, Inc., it has made an agreement to increase its stake in National Beef, a US company recognized as one of the global leaders in animal protein.

The agreement provides for the transfer to NBM and other minority shareholders of 5,395.17 shares representing 31.17% of the voting and total capital of National Beef, which is the total shares held by shareholder Jefferies Financial Group Inc. that is withdrawing from the society.

Upon completion of the transaction, NBM’s stake will increase from the current 51% to 81.73% and the remaining shareholders will have the following stake: BPI 2.44%, USPB 15.07%, and Tim Klein 0.76% of National Beef’s total and voting share capital.

The transaction will amount to US$860m, which will be paid in upfront at the closing without loss to the payment to Jefferies of the dividends for the year 2019 of approximately US$110m. There will be no change in the current administration of National Beef. The transaction is subject to customary consent and is expected to close later this quarter.

Graph source: DataLiner/Datamar

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