BRAZIL: Marfrig attracts “buyer interest”

Brazilian meat giant Marfrig is understood to have attracted companies including Tyson and BLACKSTONE for the potential purchase of a stake in the group.

According to Bloomberg, private equity firms JPMorgan Chase & Co., Banco Bradesco and Blackstone, and meat giant Tyson are interested in buying a shareholding in Marfrig or one of its units.

Marfrig is understood to have hired Banco Itau to raise BRL2bn (US$990m) through the sale, the publication noted, with talks said to be at a “preliminary” stage.

Earlier this year, Marfrig’s board of directors approved a new operational structure as the firm looked to cut costs and complexity from the business.

The move created a “new operational unity”, Seara Foods, as well as implementing changes to its beef division and creating a separate holding to focus on strategy.

Blackstone, JPMorgan, Banco and Tyson did not return a request for comment.