September 9, 2019
Brazil's BRF said it has sold its 49% stake in a joint venture in Singapore to its partner, SATS, for SGD17m ($12.3m) as part of a program to lower debt.
BRF invested $19m to create the joint venture called Singapore Food Industries in 2015. SATS now has full control of the business and has renamed it Country Foods. SATS will distribute BRF brands in Singapore through Country Foods as part of the agreement.
After it announced plans to lower debt in July, BRF has sold its businesses in Europe and
Brazilian meat company sells 49% stake for $12m