A shareholder assembly involving the potential merger between BRF and Marfrig International Meals has been postponed, per a call from the Brazilian Securities Fee (CVM).
In a securities submitting that may be seen on the BRF investor relations webpage, it was introduced {that a} shareholder assembly, initially scheduled for June 18, has been postponed for a minimum of 21 days. A vote to approve the deliberate merger between BRF and Marfrig was anticipated to be the important thing order of enterprise on the assembly.
In line with the submitting, the CVM acquired two separate requests concerning BRF’s extraordinary shareholder assembly – one asking to cancel the assembly fully and one other asking to postpone it.
The same discover on the Marfrig investor relations webpage stated the rescheduled assembly date shall be introduced within the close to future.
Marfrig is almost all stakeholder of BRF and share the identical chairman. Nonetheless, one month in the past, each firms introduced their intent to pursue a merger, with the proposed identify of the mixed firm being MBRF International Meals Firm.
The proposed merger has already gained approval from Brazil’s antitrust authority, the Administrative Council for Financial Protection (CADE).
BRF is primarily often called a poultry and pork producer, rating because the world’s third largest poultry producer, having slaughtered 1.67 billion broilers in the course of the previous yr, in line with the WATTPoultry.com Prime Poultry Firms Database. Along with its South American operations, BRF, previously often called Brasil Meals, has a powerful presence within the Center East.
BRF can also be lively within the pet meals sector. In line with Petfood Trade’s Prime Pet Meals Firms, BRF Pet SA turned a significant participant within the Brazilian pet meals market in 2021 with the acquisitions of established producers Hecosul and Mogiana.
Marfrig is primarily often called a beef producer, however the joint submitting additionally revealed its slaughter actions additionally embody cattle, horses, pigs, goats, sheep, poultry and buffalo. Additionally it is the previous mum or dad firm of Keystone Meals, which was acquired by Tyson Meals in 2018.
Each firms rank among the many world’s largest feed firms, as BRF is the world’s 14th largest feed producer and Marfrig is the world’s 132nd largest feed producer, having respectively produced 9.6 million and 1.1 million metric tons in the course of the previous yr, in line with info from the Feed Technique Prime Feed Firms Database.
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