Brazilian meat processor Sadia said today (5 June) that it had struck a deal to sell its stake in Russian venture Investeast.
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Sadia, which looks to set to merge with fellow Brazilian meat group Perdigao, has sold its 60% stake to venture partner Fomanto in a deal worth US$77.5m.
“This decision does not change the marketing strategy of Sadia in the Russian market,” Sadia said.
The merger with Perdigao, first announced last month, would create a new business, Brasil Foods, which would be the world’s largest poultry exporter.
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