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Minerva Buys Uruguayan Meat Business

08 May 2014

URUGUAY - Brazilian meat processor Minerva S.A. has concluded the acquisition in Uruguay of Frigorífico Matadero Carrasco SA.

Minerva, which specialises in fresh beef, live cattle and cattle by-products, and also has operations in the beef, pork and poultry processing segments agreed the purchase of Frigorífico Carrasco in March.

The deal is worth $37 million with $17 million paid in cash, $10 million to be paid on 30 April 2015 and $10 million could be payable with one million, seven hundred thousand (1,700,000) Minerva S.A. shares, to be transferred within one year and freed over three years from 30 April 2015.

TheMeatSite News Desk

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