November 19, 2019
Brazil's Marfrig said it has agreed to buy another 31.2% in the US beef company National Beef from Jefferies for $860 million.
Jefferies, a financial services group from New York, will exit its investment in National Beef when the deal closes. Marfrig's US subsidiary, NBM, will increase its stake to 81.7%, the Brazilian meat company said in a statement.
US Premium Beef will hold on to 15.1% of National Beef, while Beef Products will have 2.44% and Tim Klein will have 0.76%, according Marfrig.
Brazilian meatpacker acquires Jefferies' remaining 31% share in National Beef for $860 mln