JBS Delays Debt Reduction to Snag Marfrig Assets
JBS has agreed to acquire the Seara poultry and pork unit in Brazil from Marfrig Alimentos for BRL5.85bn ($2.73bn) in assumed debt, the two say. The move further extends JBS' operations beyond beef and also includes the Zenda leather operation in Uruguay. The deal allows Marfrig to focus on its beef operations in Brazil and reduce a challenging debt burden. The debt assumed in the transaction includes maturities from 2013-2017, and about half...
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