Brazilian food processor Brasil Foods has approved the delisting of the shares of its subsidiary Sadia.
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Brasil Foods was created earlier this year through a merger of Brazil’s two largest meat packers, Perdigao and Sadia.
Perdigao shareholders control 68% of the new entity and Sadia operates as a 100% owned subsidiary of BRF.
The merger is still pending the approval of the Brazilian anti-trust commission.
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