Marfrig buys National Beef, becomes world’s 2nd largest beef processor | TheFencePost.com

Marfrig buys National Beef, becomes world’s 2nd largest beef processor

Anna Flávia Rochas
for Meatingplace.com

Brazil's Marfrig Global Foods has reached an agreement to acquire 51 percent of National Beef Packing Company for $969 million, becoming the world's second largest beef processor, the company announced in a statement early Monday.

In addition, Marfrig intends now to sell 100 percent of Keystone, a transaction which will further reduce its leverage to 2.5x by the end of 2018. Marfrig previously had the plan to launch the initial public offering of Keystone in the U.S.

For the rest of the story go to http://meatingplace.com/Industry/News/Details/78984?loginSuccess.