Minerva plans Athena listing to beef up growth

Minerva plans Athena listing to beef up growth

Corporate & Sovereign Strategy Capital Markets M&A Brazil US Latin America

Brazilian beef producer Minerva said on Tuesday that its sale of a minority stake in Athena Foods to a Nasdaq-listed Special Purpose Acquisition Company (SPAC) will allow the subsidiary to list on the New York Stock Exchange, which should boost its access to capital and drive growth. "The SPAC has $200 million in cash and the proposed transaction is to merge with Athena and, as a result, Athena will be a listed entity on Nasdaq with $200 million cash plus a $100 million private investment that w

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