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 PerdigÃ£o SA has merged with Eleva Alimentos SA. With
the acquisition of Eleva, PerdigÃ£o has upstaged its giant rival Sadia.
PerdigÃ£o 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
One of the conditions of the agreement is that PerdigÃ£o 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 PerdigÃ£o, the company will hold a public offering to finance
the purchase of Eleva shares.
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