BRF and Marfrig complete terms of agreement for asset swap
Brasil Foods and Marfrig Alimentos have agreed the final terms for the asset swap between the two companies announced last year. Brasil Foods will pass on to Marfrig the assets involved in the agreement with Brazil’s antitrust body, (CADE).
In return, Marfrig will pass onto Brasil Foods a 90% stake in the Argentine company, Quickfood, which owns the brand Paty, a leader in hamburgers, and will pay it R$ 350 million. This is more than reported in December, when the amount involved in the deal was estimated at R$ 200 million.
In a relevant fact, Marfrig says it will pay an initial R$ 100 million between June and October, and the remainder will be paid in 72 monthly installments. The deal is expected to be completed by June 1.
As reported in December, BRF will transfer to Marfrig, among other assets, eight distribution centers, the 64.57% stake held by Sadia in Excelsior Alimentos, and all its contracts with integrated producers to ensure Marfrig maintains the same levels of supply as BRF did.
Information provided by Valor Economico