Marfrig unloads Argentine units

Marfrig unloads Argentine units

Argentina Brazil China M&A

Marfrig Global Foods said it has agreed to sell meatpacking and livestock units in Argentina to Black Bamboo Enterprises, a subsidiary of Chinese food processor Foresun Group, for $75m. Black Bamboo will acquire meatpacking businesses in the cities of Hughes, Vivorata and Unquillo and a livestock confinement unit in Monte Ralo. The business in Hughes is the only operational unit that has been sold. The Chinese company has agreed to pay $34m in cash up front and another $36m over the next 12 mont

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