SÃO PAULO, Brazil – BRF SA and the Qatar Investment Authority (QIA), Qatar’s state-owned holding company, agreed to acquire the processing operations of Banvit Bandirma Vitaminli Yem Sanayii A.?.(Banvit), the largest poultry processor in Turkey.
Under the terms of the agreement, BRF will own 60 percent of the company through its OneFoods Holding Ltd. subsidiary, and QIA will hold the remaining 40 percent. The transaction consists of two phases. In the first phase, BRA will acquire 79.5 percent of Banvit. BRF and QIA will launch a tender offer for the remaining 20.5 percent.
“Upon completion, the transaction will allow OneFoods entry into the Turkish market, which has the largest poultry halal consumption in the world, [and] is aligned with its continuous commitment to the Muslim markets,” BRF said in a statement.