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Brazil regulator postpones shareholder meeting on Marfrig-BRF deal
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Brazil regulator postpones shareholder meeting on Marfrig-BRF deal
Jun 17, 2025 7:00 AM

SAO PAULO (Reuters) -Brazilian securities regulator CVM has postponed a shareholder vote on the takeover of poultry and pork processor BRF by beef processor Marfrig, the companies said in a securities filing on Tuesday.

Shareholders from both firms were set to vote on Wednesday on a deal announced in May that would allow Marfrig - already the holder of a controlling stake in BRF - to complete its takeover in a share-swap deal, forming a global company called MBRF.

According to a document on the CVM website, the regulator postponed the meeting for 21 days following a request from minority shareholders, who said they need more information to understand the criteria for each company's valuation and the deal's exchange ratio.

BRF and Marfrig in a joint securities filing said the regulator requested additional information from both companies on the terms of their proposed tie-up.

They added that they were analyzing the CVM's decision and studying their options, including a potential request for reconsideration of the postponement.

The companies had previously said that the takeover was subject to approvals, including in the respective shareholders' meetings.

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