Marfrig Raises Stake In National Beef

09:38AM Nov 18, 2019
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Marfrig agrees to purchase additional interest in National Beef.
( Marfrig )

Marfrig is acquiring additional interest in National Beef Packing Company.

Jeffries Financial Group announced it has entered into a definitive agreement to sell its remaining 31% interest in National Beef to Marfrig Global Foods SA. The purchase would raise Marfrig’s stake in National Beef to 81.7%.

Marfrig is set to pay Jefferies Financial Group $860 million. Including dividends relative to this year, Jefferies will receive a total of $970 million. The deal is set to close Nov. 30, 2019.

Following the transaction, other shareholders in National Beef will be USPB, with 15%, BPI at 2.4%, and Tim Klein, 0.8%.

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