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Brazil’s Marfrig signs non-binding investment agreement in Paraguay

07 September 2020

Brazilian beef packer Marfrig SA is exploring investment opportunities in Paraguay.

Reuters reports that Marfrig SA announced a non-binding agreement with the Paraguayan Association of Meat Producers and Exporters (APPEC) to explore potential investment opportunities in the country.

The agreement entails incorporation of a new company in Paraguay in which Marfrig will have majority ownership of 85 percent, the statement said. APPEC will own 15 percent in the venture.

Marfrig, which owns National Beef in the United States, is one of Brazil's largest beef producers and the world's largest maker of beef hamburgers.

In the statement, Marfrig said its investments through the new Paraguayan venture may reach $100 million over 24 months.

Read more about this story here.

Source: Reuters



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