IEG Vu is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

BNDES may be Marfrig's largest shareholder in 2015, says BofA

The National Bank for Economic and Social Development (BNDES) will be the largest shareholder in Marfrig in 2015, says a report published by Bank of America (BofA). By the bank's calculations, BNDES will own 31.3% of the slaughterhouse's capital after the full conversion of debentures in July 2015. The parent company MMS Participações will hold a 30.2% stake in the company.

In July 2010, BNDES purchased R$ 2.5 billion of debentures convertible into Marfrig shares. Under the terms of the contract, the state-owned bank will convert the amount into Marfrig stock at a price of R$ 24.50 in July 2015. There is a provision, however, that BNDES could convert all its debentures in the event of a shares issue by Marfrig. In this event, instead of exchanging the shares at a price of R$ 24.50, BNDES would convert them at the price fixed upon the issue of the debentures.

Information provided by Valor Econômico
 

Topics

What to read next

UsernamePublicRestriction

Register

CO193846

Ask The Analyst

Please fill in the form below to send over your enquiry or check the Ask The Analyst Page to find out more about the service

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel