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BRIEF-Brazil's Minerva says purchase of JBS plants boosts beef export base
June 6, 2017 / 2:36 PM / 6 months ago

BRIEF-Brazil's Minerva says purchase of JBS plants boosts beef export base

June 6 (Reuters) -

* Brazil meatpacker Minerva believes acquisition of JBS SA’s plants in line with plan to diversify across Mercosur geographies, boosts its beef export base in South America

* Minerva says multiple from acquisition of JBS plants in Argentina, Paraguay and Uruguay between five and six EV/EBITDA

* Minerva says synergies from acquisitions estimated at 2.5 percent of revenue of purchased units

* Minerva will pay $280 million in cash at the closing of JBS units’ acquisition, remainder subject to due diligence

* Minerva projects two-thirds of revenue to come from exports following acquisition of JBS units in Mercosur

* Minerva bought five plants in Argentina, four of which are closed and will remain closed in short term

* Minerva says no other opportunistic acquisitions planned Further company coverage: (Reporting by Ana Mano)

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