Marfrig plan to sell stake attracts interest

by Meat&Poultry Staff
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SÃO PAULO, Brazil – Marfrig Alimentos SA plans to sell a stake in the company, and Tyson Foods Inc. and Blackstone Group LP are said to be interested buyers, according to Bloomberg.

Joao Sampaio, vice president of institutional affairs for Marfrig, said in June that the company was seeking to sell some assets to reduce the company’s debt, according to Bloomberg. The company made 20 acquisitions in five years, including Cargill’s Seara business and Keystone Foods, a McDonald’s supplier.

Fitch Ratings revised its outlook for Marfrig to negative from stable. The ratings agency said Marfrig will be challenged to raise prices to fully accommodate its rising costs in the context of a slow economy in Brazil and slower than expected recovery in its export markets.

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