Minerva S.A. received approval from the Brazilian Administrative Council for Economic Defense for an asset deal with Mafrig Global Foods S.A.
Announced in August 2023, the agreement involves Minerva purchasing several cattle and lamb slaughter units from Marfrig in Argentina, Brazil and Chile for $1.5 billion.
Marfrig also reported a net profit of 75.4 million reals ($13.78 million) in the second quarter, driven by strong operational improvements. The company’s net revenue for the quarter rose 16.5% year over year to 34.7 billion reals ($3.4 billion).
