Brazilian meat processors BRF and Minerva have both denied reports in local media that the two firms plan to merge.
The Brazil Journal had reported that Minerva was seeking US$3bn from investors to merge with BRF, while the national Broadcast Agency said such a tie-up would be one of the latter’s strategies following a fund raising exercise.
Responding to those reports, Pedro Parente, chairman of BRF’s board of directors, ”denied any articulation of any kind in this sense”, according to a statement from the meat giant.
It added: ”BRF will keep its shareholders and other investors informed of any eventual unfolding related to the subject matter of this announcement to the market.”
Meanwhile, Minerva also issued its own statement, saying it ”hereby informs its shareholders and the market in general that [it] has not made any investment proposal. The company reaffirms its commitment to keep the shareholders and the market in general informed about any matter that can be relevant to the market”.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData