Saudi agri-investor agrees 20% Minerva stake

Saudi agri-investor agrees 20% Minerva stake

Brazil Middle East M&A

Saudi Agricultural & Livestock Investment (Salic) is set to inject $188m into Brazilian meat exporter Minerva Foods, taking a 19.95% stake, the companies said. The deal, announced on Wednesday, would see Salic buy 47.8m new Minerva shares at BRL15.60 ($3.94) each in a private capital increase. If approved, Minerva’s controlling shareholders VDQ and BRF would have their stakes diluted from 33% and 15.1% respectively, to 26% and 12.9%. Minority shareholders’ stakes will reduce from 52% to 41.

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