Brazilian beef producer Marfrig Global Foods SA bought about a quarter of rival BRF SA, one of the world’s biggest poultry suppliers, as it seeks to expand in processed food.
Marfrig purchased a 24.23% stake in BRF, pledging to remain a passive investor that won’t influence the board or management, according to a regulatory filing. It paid about $800 million, according to a person familiar with the purchase, who asked not to be named because the information isn’t public.
BRF shares jumped by a record 29% this week, pushing its market value to almost…
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