BRF and Qatar to buy Turkish poultry firm Banvit in $470 mln venture

Banvit Bandirma Vitaminli Yem Sanayi AS

09/01/2017 21:05

SAO PAULO, Jan 9 (Reuters) - Brazilian food processor BRF SA 
 BRFS3.SA  and Qatar's sovereign wealth fund agreed to buy the 
operations of Turkish poultry producer Banvit  BANVT.IS  in a 
joint venture, BRF said in a securities filing on Monday. 
    BRF said it would take a 60 percent stake in the venture and 
the Qatar Investment Authority will take 40 percent in a deal 
that calculates Banvit's enterprise value at $470 million. The 
first phase of the deal involves acquiring 79.5 percent of 
Banvit, followed by a tender offer for the rest of the company. 
 
 (Reporting by Paula Laier; Writing by Brad Haynes; Editing by 
Alistair Bell) 
 ((brad.c.haynes@tr.com; +55 11 5644 7725; Reuters Messaging: 
brad.c.haynes.thomsonreuters.com@reuters.net)) 
 
Keywords: BANVITAS M&A/BRF