Brazilian beef processor and exporter Industria e Comercio de Carnes Minerva will transfer its holdings in subsidiary Transportadora Minerva.
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The group revealed today (25 May) that it has received sufficient consents from holders of senior notes to allow it to transfer all of its equity interest in Transportadora, a wholly-owned subsidiary of Minerva, to a company owned by certain of Minerva shareholders.
The transfer of ownership is intended to streamline Minerva’s corporate structure and allow it to focus on its core beef production business.
