Two of Brazil’s largest meatpacker companies unite
Two of Brazil’s largest companies in the poultry and pig sector, have merged to create Brazil’s largest meatpacking company, with a combined revenue of approx. $5.2 billion.
Poultry and pork giant Perdigão SA has merged with Eleva Alimentos SA. With the acquisition of Eleva, Perdigão has upstaged its giant rival Sadia.
Perdigão has agreed to buy 23.17 million shares of Eleva’s stock, amounting to some 36% of the Eleva’s voting capital, at approximately $14.60 per share.
One of the conditions of the agreement is that Perdigão will give 15.46 million of its stocks to Eleva’s controlling shareholders in exchange for an additional 41.57% of the latter’s voting capital.
According to Perdigão, the company will hold a public offering to finance the purchase of Eleva shares.
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