The long-awaited merger between Marfrig Global Foods and BRF took a step forward last week. The majority of the Administrative Council for Economic Defense (Cade) board members voted in favor of the operation without restrictions, under which Marfrig will fully incorporate BRF’s shares, forming MBRF, one of the largest global animal protein companies.
The deal, announced in May, is expected to create a company with estimated annual revenues of R\$ 152 billion, reinforcing competition with JBS, already integrated in beef, poultry, pork, and processed foods. The expectation is that MBRF will increase operational scale and expand its international presence, adding Sadia and Perdigão to Marfrig’s brands.
Despite the majority already formed, board member Carlos Jacques Vieira Gomes requested a review, which postpones the proclamation of the decision for up to 60 days. The main point of attention in the ruling was the participation of Salic, a Saudi investment fund that already holds 11.03% of BRF and 24.49% of Minerva, a potential direct competitor of the new company.
The final decision by Cade should be announced within the next two months, with the market closely monitoring Salic’s moves and the integration plans for the operations, reported Msn.
