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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.

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