October 8, 2012
Brazil-based poultry processors BR Frango, Averama to merge
Press release
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Poultry processors BR Frango and Averama, both from Paraná, Brazil, have announced a merger, amid consolidation of the industry in Paraná.
The agreement was signed on Oct 2, after talks started six months ago. Both companies are now in due diligence and the transaction will be done through an equity swap with no amounts exchanged.
BR Frango has nearly BRL100 million in debts and was not able to finance its expansion.
