Brazilian food group Marfrig has filed plans for a domestic share offering in the wake of its US$706.2m acquisition of Cargill-owned poultry business Seara Alimentos.
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The company yesterday (23 September) told investors that it had applied to Brazil’s share watchdog to launch the offer.
Once the CVM, Brazil’s Securities and Exchange Commission, approves the registration, Marfrig will publish details of the share offer.
“The realisation of the offering is subject to favourable conditions in Brazil’s capital markets,” the company said.
Last week, Marfrig snapped up Seara to boost its operations at home and abroad.
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By GlobalDataThis week, Marfrig announced a five-year tie-up with wholesaler Grupo Martins. The company also unveiled plans to expand its beef production through a separate agreement to lease 11 meatpacking plants in Brazil.
