CADE approves agreement between BRF and Marfrig
Brazil’s antitrust body, CADE, has unanimously approved the asset swap between BRF - Brasil Foods - and Marfrig. Marfrig will hold the assets that BRF had to offer for sale as a condition imposed by CADE for its creation out of the merger between Sadia and Perdigão. In return, BRF will get Marfrig assets related to the Paty brand in Argentina and a payment of R$ 350 million.
The deal, involving about 8,000 workers, is still subject to further checks and will be accompanied by CADE, as the exchange of assets will take place over this year in three phases. In their ruling, the directors of CADE said that BRF has so far complied with its Performance Commitment Terms (TCD) agreed by the company in July last year.
Information provided by Valor Economico