Brazil's Marfrig, Minerva unaware of decision blocking deal in Uruguay

BRF SA

17/05/2024 16:21

SAO PAULO, May 17 (Reuters) - Brazilian meatpacker
Marfrig  MRFG3.SA  has not been notified of a decision reported
in the media claiming its deal to sell some plants to rival
Minerva  BEEF3.SA  has been blocked by Uruguayan antitrust
authorities, it said in a statement on Friday.
    Buyer Minerva issued a nearly identical statement on the
matter. Uruguay's economy ministry told Reuters on Friday the
country's antitrust authority has not made an official decision
and was not commenting at this time. 
    Marfrig agreed in August to sell 16 slaughtering plants to
Minerva for 7.5 billion reais ($1.47 billion), in a deal that
would significantly change its profile in South America.
    The units being divested are located in Chile, Brazil,
Argentina and Uruguay. Most process cattle while one in Chile
slaughters lambs.
    Marfrig would retain only its larger-scale industrial
facilities in South America in a bid to focus on production of
processed meat products. 
    Marfrig also controls Brazil-based poultry and pork
processor BRF  BRFS3.SA , and National Beef  NBEEF.UL  in the
United States.
    Shares in Marfrig rose 2.7% and shares in Minerva were up
0.6% in late morning trading in Sao Paulo, while the benchmark
Bovespa index  .BVSP  was down 0.2%.

($1 = 5.1118 reais)

 (Reporting by Ana Mano in Sao Paulo; additional reporting by
Lucinda Elliott in Montevideo;Editing by Kirsten Donovan)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
ana.mano.thomsonreuters.com@reuters.net))