Marfrig wants Excelsior shares in 30 days
Marfrig says it will file a public offer to buy shares in Excelsior at Brazil's securities commission (CVM). This involves only ordinary shares in Excelsior and will have an 80% tag along - meaning minority shareholders will get that proportion of the amount paid per share to the controller. The contract was signed on March 21 this year.
The share swap deal involves the entire stake held by Sadia, directly and indirectly, in Excelsior - equivalent to 64.57% of the total. It is part of the commitment entered into by Brasil Foods with Brazil's antitrust body, CADE, in its approval of the acquisition of Sadia by Perdigão which formed BRF.
Information provided by Monitor Mercantil