Negotiations progress towards BRF-Marfrig merger
Jun, 05, 2019 Posted by datamarnewsWeek 201924
BRF and Marfrig have begun official merger talks. There will be 90 days of negotiations and according to sources close to both companies, issues being discussed include the release of capital in the United States, and the headquarters of the new company, which can take advantage of NationalBeef´s structure, an American company controlled by Marfrig.
According to information by Valor, Pedro Parente should continue as chairman of the board and Lorival Luz as CEO of the new company. But an alternative to be considered is shared chairmanship of the board of directors between Parente and the entrepreneur Marcos Molina, founder, and chairman of Marfrig’s board. The shareholders of both companies must be heard in an assembly before any agreement can be reached, although the executive board of the new company will include professionals from both BRF and Marfrig.
As reported by DatamarNews on May 31st, if successful, the merger will result in a company that will be amongst the largest companies of the sector in Brazil, US, Latin America, Middle East, and Asia. BRF is expected to have an 85% stake of the new company, while Marfrig is expected to hold 15%.
The following graph uses Dataliner data to show BRF and Marfrig’s beef exports between January 2015 to April 2019.
Source: Valor
Source: Dataliner
-
Meat
Jun, 08, 2019
0
Chicken exports to China grew 49% year-on-year in May
-
Meat
Feb, 13, 2019
1
BRF recalls chicken over salmonella fears
-
Meat
Apr, 10, 2019
0
Marfrig negotiating supply of hamburgers to McDonald’s
-
Meat
Jul, 24, 2019
0
Paraguay’s Frigorífico Concepción is for sale