Brazil’s BRF draws share pledges from Saudi Arabia’s Salic and Marfrig

BRAZIL-Saudi Agricultural and Livestock Investment Co. (SALIC) and Marfrig have each committed to purchasing 250 million shares in any “future primary” share offering by Brazilian meat giant BRF. BRF has a potential US$900 million stock offering and these two players will be taking up the majority of this offering.  SALIC, which was formed in 2011 to secure food supplies for…

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Nestlé refutes claims of bidding for BRF pet-food assets

BRAZIL- The owner of the Purina pet food brand, Nestle, has denied recent unsubstantiated claims that it tabled 1.7bn reais (US$330.1m) for the purchase of Brazillian BRF pet-food assets.  A month ago, on February 28, 2023, BRF said in a stock-exchange announcement that it had hired Banco Santander as a financial advisor and was in early-stage discussions with would-be buyers…

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BRF to divest pet-food operation following US$114.7 million quarter-four net loss

BRAZIL- According to a stock-exchange announcement on 28th February, Brazilian meat processor, BRF, plans to sell its pet-food business after registering a US$114.7 mln net loss in the fourth quarter.  BRF, the result of the 2009 merger between Brazillian Sadia and Perdigão, announced that it had hired Banco Santander as a financial advisor for the sale of the pet food…

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