Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives
You are here: Home >news >Brazilian meatpackers BRF and Marfrig call off merger talks

Brazilian meatpackers BRF and Marfrig call off merger talks

2019-07-15 foodprocessing-technology

Tag: Meat BRF

Share       

Brazilian firms BRF and Marfrig Global Foods have reportedly called off possible merger talks, which have been ongoing since last month.

The two companies stated in securities filings that they have formally ended talks as they could not agree on the governance structure of the potentially merged company.

Key stakeholders, including the founding family members of BRF, Fontana and Furlan, as well as pension funds such as Previ and Petros, opposed the proposed merger.

They were against the merger due to the proposed prominence of Marcos Molina, Marfrig founder and chairman, in the management of the future company.

Currently, Molina holds a 30% stake in Marfrig and would own 5% in the combined entity.

Molina was reportedly seeking to acquire additional Marfrig shares to own a larger proportion of the combined company.

If the proposed merger was successful, it would have created one of the world’s largest meat producers.

Last month, BRF and Marfrig reportedly began talks to merge their businesses to create one of the largest meat processing companies in the world.

According to Brazilian food conglomerate BRF, it signed a memorandum of understanding (MoU) with Marfig, pursuant to which they entered a proposed 90-day negotiation period to study and define the terms of a potential deal.

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121  沪公网安备31010402001403号

Inquiry Basket

Inquiry Basket

Buyer service

Buyer service

Supplier service

Supplier service

Top

Top