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Minerva forms JV with SALIC for Australian buys

Minerva forms JV with SALIC for Australian buys

August 30, 2021
Brazilian meatpacker partners with the Saudi agricultural and livestock company to acquire two sheep processing plants in Western Australia

M&A Equity Brazil Australia Middle East

Brazilian meat company Minerva has formed a joint venture with the Saudi Agriculture and Livestock Investment Company (SALIC) to acquire two sheep processing plants in Australia. Minerva will invest $35 million and own 65% of the joint venture, while SALIC will have the other 35% stake, the Barretos-based meatpacker said in a securities filing on Thursday.  Minerva also said it expects the joint venture to take control of Sharke Lake and Great Eastern Abattoir in the state of Western Australia w

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