Sadia May Join BNDES Bailout Club

Sadia May Join BNDES Bailout Club

Funds

Sadia, which has said in the past week it is seeking financing options including the sale of an equity stake, may join fellow soft commodities players VCP and Santelisa in leaning on the BNDES for funds, according to an Itau report. The shop sees Sadia considering a sale of ordinary shares to the development bank in the amount of up to BRL1bn. The figure is based on a remark by Sadia’s IR officer to a local paper on the company’s necessity. Votorantim’s VCP unit fell back on the BNDES earlier th

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