From the Wires
Brasil Foods S.A. Acquires Minority Interest of Avex S.A.
By: PR Newswire
Dec. 31, 2012 05:11 PM
SAO PAULO, Dec. 31, 2012 /PRNewswire/ -- BRF – Brasil Foods S.A. ("BRF" – BM&FBovespa: BRFS3; NYSE: BRFS) pursuant to CVM Rule 358, of January 3, 2002 and article 157, paragraph 4, of Law 6.404/76, hereby announces that it acquired 1/3 of the minority interest of Avex S.A., and through the latter, it acquired the remaining interest in the companies Flora Danica S.A., Flora San Luis S.A. and GB Dan S.A. ("Grupo Danica"), all headquartered in Argentina.
The transaction shall be completed within 90 days, under the terms of the agreement executed between the parties and foresees a US$ 40.5 million investment.
This transaction will allow BRF to integrate its business in Argentina, including the operations of Quickfoods (acquired in July), as well as to gain synergies for integrated business.
SOURCE Brasil Foods S.A.
SOA World Latest Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week