December 9, 2011

 

Brasil Foods, Marfrig to exchange assets
 

 

Brasil Foods and Marfrig have agreed on Thursday (Dec 8) to swap operating assets in Brazil and Argentina.

 

The exchange is part of a deal with Brazilian antitrust regulator Cade, which imposed restrictions for the approval of Perdigao's acquisition of Sadia that created Brasil Foods. The conditions imposed included the sale of some assets and brands.

 

The swap deal, which is pending regulatory approval, includes several distribution centres and meat processing plants. Marfrig has also agreed to pay BRL200 million (US$110 million) to Brasil Foods.

 

Marfrig shares were trading up 3.28% in early trading on the Sao Paulo stock exchange, while Brasil Foods shares were down 0.60%.