Marfrig Becomes Dominant Shareholder of BRF

SÃO PAULO — In a significant development, Marfrig Global Foods S.A. has emerged as the majority shareholder of BRF S.A. The company expanded its equity interest in BRF, solidifying its position as the dominant shareholder.

Stake Acquisition Details

According to a securities filing dated December 28, BRF confirmed that Marfrig now holds a substantial 50.06% stake in the company. This stake comprises 842,165,702 common shares and American Depositary Receipts (ADRs) of BRF.

No Plans for Structural Changes

Marfrig has asserted that it has no intentions of altering the current shareholding composition or administrative structure of BRF as a result of this acquisition. Additionally, Marfrig has not entered into any contracts to regulate voting rights or the purchase and sale of BRF’s securities.

Read: Why Marfrig Became The Majority Shareholder of BRF

Steady Increase in Ownership

Marfrig’s journey to attain majority ownership of BRF has been marked by consistent accumulation of shares. It began in May 2021 when Marfrig initially acquired a 24.23% stake in BRF. Over time, the company continued to bolster its position, reaching a 40.05% stake by September 2023, totaling 673,879,961 common shares.

Merger Speculations from 2019

It’s worth noting that both Marfrig and BRF, both based in Brazil, had previously indicated the possibility of a merger in 2019. However, these merger discussions ultimately did not materialize.

Read: BRF SA’s Deepening Financial Troubles