Police search Marfrig offices

by Erica Shaffer
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SAO PAULO, Brazil – Police in Brazil executed a search-and-seizure operation at the office of Marfrig Global Foods SA. The company said in a statement that it is complying with the operation dubbed “Operation Acronym.” Federal police are investigating alleged financial irregularities in the 2014 election campaign of Minas Gerais state’s governor.

The company denied having any involvement with alleged irregularities under investigation by Operation Acronym. The company said its officials are cooperating with law enforcement, adding that the company already had made information available to judicial authorities on the matter.

The operation comes as Marfrig works to reduce its debt. The company recently launched a bond tender valued at $703 million in order to pay down debt with proceeds from the sale of Moy Park, its European food unit.
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