Marfrig Alimentos concludes sale of its U.S. and European distribution unit to Illinois-based Martin-Brower for US$400M
Nevin Barich
SAO PAULO
,
February 13, 2012
(press release)
–
In accordance with article 157, paragraph 4 of Law 6,404/76 and Rule 358 dated January 3, 2002 (“ICVM 358”) of the Securities and Exchange Commission of Brazil (“CVM”), Marfrig Alimentos S.A. (“Company” – BM&FBovespa: MRFG3; ADR level 1:MRTTY), hereby announces to its shareholders and the market, following up on the material fact announced on September 18, 2011, that it has completed due diligence and signed the final and irrevocable agreement for the sale of its quick service restaurants (QSR) logistics assets and businesses in the USA, Europe, Middle East, Oceania and Asia of its subsidiary Keystone Foods, LLC to The Martin-Brower Company, L.L.C.
The total price of the assets and business was confirmed at USD 400 million (USD 400,000,000.00) and the parties have scheduled the closing on March 30, 2012, which includes obtaining the customary corporate and legal approvals in the first quarter of 2012.
The sale of these logistics assets will allow the Marfrig Group to strategically focus on its core business of developing, producing and selling industrialized food based on based on beef, pork, poultry and fish, on a global scale.
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