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BRF and Marfrig refuse to merge



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marfrig and brf

SÃO PAULO – BRF (BRFS3) and Marfrig (MRFG3) refused to merge. The two companies confirmed the material facts sent to the Brazilian Securities and Exchange Commission (CVM).

"The closure of the negotiations was motivated by the fact that the administration of Marfrig and BRF S.A. did not reach a consensus on the management of the company, which may be the result of a possible
operations ", – reported the company.

The companies also reported that, despite the cancellation of the merger, the commercial relationship between them will remain unchanged, and there will be no changes in the practice, terms and conditions stipulated in the contracts concluded by them.

Although companies did not understand the reasons for the cancellation of the deal, journalist Geraldo Samor of the Brazilian magazine website said, referring to a source that Marfrig's marketing manager, Marcos Moline, believed that the new company should have a directory to ensure stability of the company's management in the long run. But the BRF did not have a consensus.

According to an agreement announced at the end of May, BRF shareholders own 84.98% of the new company, and Marfrig – 15.02%.

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