January 29, 2009

Sadia to get bank loan of US$441 million


Brazilian poultry producer Sadia may get a bank loan of about BRL1 billion (US$440.6 million), according to newspaper Valor Economico.


Sadia is struggling with debt after currency-derivatives losses amid the financial crisis.


Investor Relations Director Welson Teixeira said Sadia is currently in talks with the National Bank for Economic and Social Development and other lenders, said the newspapers.


State-owned bank BNDES may acquire shares in Sadia as payment for the funds, said Valor.