November 7, 2016 / 12:18 PM / 10 months ago

BRIEF-Brazil's Minerva to buy meat packer Rio Doce for $64 mln

Nov 7 (Reuters) - Brazilian beef processor Minerva SA said on Monday in a market filing:

* It's board approved the purchase of meatpacker Frisa Frigorifico Rio Doce for 205 million reais ($64 mln)

* Payment is to be in installments, with 50 pct of the price in the first, followed by three additional payments over three years

* The price of the purchase could be increased by 45 million reais depending on company's cash flow

$1=3.21 reais Further company coverage: Reporting by Reese Ewing

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