Two of Brazil’s largest meatpacker companies unite
Two of Brazil’s largest companies in the poultry and pig sector, have merged to create Brazil’s largest meatpacking company, with a combined revenue of approx. $5.2 billion.
Poultry and pork giant PerdigÃ£o SA has merged with Eleva Alimentos SA. With the acquisition of Eleva, PerdigÃ£o has upstaged its giant rival Sadia.
PerdigÃ£o has agreed to buy 23.17 million shares of Eleva’s stock, amounting to some 36% of the Eleva’s voting capital, at approximately $14.60 per share.
One of the conditions of the agreement is that PerdigÃ£o will give 15.46 million of its stocks to Eleva’s controlling shareholders in exchange for an additional 41.57% of the latter’s voting capital.
According to PerdigÃ£o, the company will hold a public offering to finance the purchase of Eleva shares.