Brazil’s antitrust authority, the Administrative Council for Economic Defense, has approved a merger between beef producer Marfrig and food processor BRF, the companies said in a joint filing.
Reuters reported the deal creates MBRF, a new global food producer and exporter headquartered in Brazil, with factories in the U.S., the Middle East and China. Marfrig, already the controlling shareholder of BRF, announced in May a plan to acquire the remaining shares through a share-swap arrangement. Under the agreement, each BRF share will be exchanged for 0.8521 Marfrig shares.
