Marfrig moves on National Beef. After the BRF acquisition was unsuccessful, Brazil-based giant Marfrig, leader in the meat industry, decided to focus elsewhere. For example, on National Beef Meatpacking Company, through one of its subsidiary NBM US Holdings. According to international media, Marfrig has allegedly found an agreement with Jefferies Financial Group for the purchase of the latter’s 5,395.17 shares. In other words: 31.17% of the company’s capital.
The value of the operations is of about 860 million USD. With this move, Marfrig would increase its already substantial interest in National Beef, effectively going from 51% to 81.73%. The remaining shares will be left in the hands of BPI (2.44%), USPB (15.07%) and Tim Klein (0.76%). According to what reported by Reuters, the deal, which also includes National Beef Leather, also comprises a clause for which “there will be no modification made to the current management team of National Beef”.
Images from nationalbeefleather.com