Brazilian food group Sadia has formed a committee to study the terms of its merger with larger local rival Perdigao.
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The deal, first announced last month, would create a new business, Brasil Foods, which would be the world’s largest poultry exporter.
Between them, Perdigao and Sadia also have interests in the dairy sector and make frozen foods, pizza, pasta, margarine and desserts.
Under the transaction, Perdigao shareholders will control 68% of the new enterprise. Sadia will operate as a 100%-owned subsidiary of Perdigao.
Sadia’s committee will comprise three independent executives – Manoel Ferraz Whitaker Salles, Martus Antonio Rodrigues Tavares and Roberto Faldini.
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By GlobalData
