BRF S.A. ("BRF") today announces the commencement of an offer to purchase for cash up to the Maximum Amount (as defined below) of the outstanding 4.875% Senior Notes due 2030 (the "2030 Notes" or the "Notes") issued by BRF (the "Offer").
(Bloomberg) -- Brazilian beef producer Marfrig Global Foods SA bought about a quarter of rival BRF SA, one of the world’s biggest poultry suppliers, as it seeks to expand in processed food.Marfrig purchased a 24.23% stake in BRF, pledging to remain a passive investor that won’t influence the board or management, according to a regulatory filing. It paid about $800 million, according to a person familiar with the purchase, who asked not to be named because the information isn’t public.BRF shares jumped by a record 29% this week, pushing its market value to almost 22 billion reais ($4.1 billion). That still leaves it at little more than a third of its peak value of more than 60 billion reais in 2015.Trading volumes surged this week as a JPMorgan Chase & Co. brokerage unit dominated the buying, with a net volume of about 48.2 million shares.The Sao Paulo-based foodmakers started discussions on a merger in 2019, but the talks to create what would have become the world’s fourth-largest meat producer ended without a deal at that time.Marfrig, the second-largest beef producer, saw net income surge to record levels last year. Flush with cash, the company has been seeking opportunities to grow, focusing on the processed-food segment in which BRF is a leading producer.Marfrig’s founder and chairman Marcos Molina is the company’s largest shareholder, with a stake of about 38%.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The statements made during this conference about the Company's prospective businesses, projections and potential growth are merely forecasts based on management's expectations regarding the future of the Company. This video conference will be presented by BRF's Global CEO, Mr. Lorival Luz. The Vice Presidents of the Company are also present.