Brazil's BRF to get 15 pct of Minerva in beef swap

Reuters

SAO PAULO, Nov 1 (Reuters) - Brazilian beef producer MinervaSA said in a filing on Friday it will take control ofthe beef division of meat processor BRF in exchangefor 15 percent of Minerva's capital.

Shares of Minerva, which will get new beef processing assetsin areas of Brazil where it does not have a presence, closed up4.2 percent to 9.90 reais Friday afternoon. Shares of BRF, whichposted disappointing results earlier this week, were down 0.9percent at 52.11 reais.

Abilio Diniz, former head of Brazil's biggest retailer GrupoPão de Açúcar, recently took over as BRF's chairmanand said earlier in the week that the company would focus on"optimizing shareholder value" and investing in its areas ofproduction that offer the highest returns.

BRF is one of the world's largest exporters of poultry.

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