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Bloomberg
Marfrig Global Foods SA announced an equity offering that will allow Brazilian development bank BNDES to sell its stake in the world’s second-largest beef producer.
BNDESPar, the bank’s investment arm, plans to sell about 209.6 million shares, which is all of its 33.74% stake, Marfrig said in a regulatory filing. The company will sell about 90 million shares.
The sale could raise about 3.33 billion reais ($805 million), according to the filing. Pricing is expected on December 17, followed by the shares’ debut two days later.Marfrig’s founder and biggest shareholder, Marcos Molina, won’t divest.