Minerva approves R$ 2 billion capital increase

Minerva Foods has approved the ratification of a R$ 2 billion capital increase. The process was carried out through a private issuance of common shares as part of the company’s recent public subscription offering.

Earlier this month, the company had already raised R$ 1.715 billion from existing shareholders with preemptive rights, covering approximately 85.75% of its target.

Minerva’s initial goal was to raise at least R$ 1 billion, with guaranteed support from its main shareholders—the Vilela de Queiroz family holding and the Saudi Agricultural and Livestock Investment Company (Salic).

With the raised capital, South America’s largest beef exporter began reducing its debt burden, which had increased following the acquisition of slaughterhouses from Marfrig, according to Globo Rural.