Brazil’s Marfrig raises stake in National Beef to 81.7%

Tatiana Bautzer Reuters
Roberto Samora Reuters

NOV 18, 2019 8:02AM EST

SAO PAULO, Nov 18 (Reuters) – Brazilian protein producer Marfrig Global Foods SA MRFG3.SA has raised its stake in U.S. meatpacker National Beef Packing Company to 81.7% from 51%, according to Sunday evening filings.

Marfrig acquired the stake from Jefferies Financial Group Inc JEF.N for $860 million. Including dividends relative to this year, Jefferies will receive a total of $970 million.

The transaction is expected to conclude this year. After the acquisition, other shareholders in National Beef will be USPB, with 15%, BPI, 2,4% and Tim Klein, 0.8%.

(Reporting by Tatiana Bautzer and Roberto Samora, editing by Louise Heavens)
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