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LatinNews Daily - 24 May 2021

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In brief: Brazil’s Marfrig buys stake in BRF

* Brazilian meat packer Marfrig has purchased a 24.23% stake in BRF, the world’s largest poultry producer. The value of the deal was not made public, although a source with knowledge of the transaction told Bloomberg that Marfrig paid US$800m. Marfrig informed, however, that it would remain a passive investor and not seek to influence BRF’s activities, nor take up a position on the board. Marfrig, a beef producer, said it is seeking to diversify its investments into “complementary” activities – as well as poultry, BRF deals with pork. There had been talk of a merger between the two companies in 2019, but this was never seen through.