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Brazil's Marfrig, Minerva unaware of decision blocking deal in Uruguay
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Brazil's Marfrig, Minerva unaware of decision blocking deal in Uruguay
May 17, 2024 8:48 AM

SAO PAULO, May 17 (Reuters) - Brazilian meatpacker

Marfrig has not been notified of a decision reported

in the media claiming its deal to sell some plants to rival

Minerva has been blocked by Uruguayan antitrust

authorities, it said in a statement on Friday.

Buyer Minerva issued a nearly identical statement on the

matter. Uruguay's economy ministry told Reuters on Friday the

country's antitrust authority has not made an official decision

and was not commenting at this time.

Marfrig agreed in August to sell 16 slaughtering plants to

Minerva for 7.5 billion reais ($1.47 billion), in a deal that

would significantly change its profile in South America.

The units being divested are located in Chile, Brazil,

Argentina and Uruguay. Most process cattle while one in Chile

slaughters lambs.

Marfrig would retain only its larger-scale industrial

facilities in South America in a bid to focus on production of

processed meat products.

Marfrig also controls Brazil-based poultry and pork

processor BRF, and National Beef in the

United States.

Shares in Marfrig rose 2.7% and shares in Minerva were up

0.6% in late morning trading in Sao Paulo, while the benchmark

Bovespa index was down 0.2%.

($1 = 5.1118 reais)

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