June 3, 2019 |
Brazil's BRF and Marfrig said they have entered exclusive talks to discuss a possible merger and create one of the largest meat producers in the world.
BRF would own 85% of the new company, while Marfrig would have 15%, the two companies said in separate filings. The value of the deal would be based on each company's average share price over the past 45 days, they added.
Shares in BRF sank 4.52% to close at BRL27.70 after the announcement on Friday. Marfrig's shares rose 0.74% to BRL6.83.
Brazilian food companies could create one of the world's largest meat producers with tie-up