December 24, 2008

Sadia seeks 20 percent partnership

Brazilian meat packer Sadia SA is looking for a business partner to take up 20 percent equity in the company after incurring losses of US$400 million on currency exchanges.

Investment losses made by Sadia have drawn flak from investors many whom have taken legal action against the company.

Whether these actions bear fruition or not, they have already cast a long black shadow of doubt over the companies operating capacity, and the company's viability.

The CEO stepped down and the financial director was dismissed, over the losses.

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