August 20, 2018 / 12:39 PM / a year ago

Marfrig's Keystone deal will cut net debt by at least 2.2x EBITDA

SAO PAULO, Aug 20 (Reuters) - The sale of Brazilian meat-packer Marfrig Global Foods SA’s Keystone Foods business to Tyson Foods Inc will help Marfrig cut net debt to between 2.2 times and 2.5 times earnings before interest, taxes, depreciation and amortization, Marfrig’s chief financial officer said on Monday.

CFO José Eduardo Miron spoke on a conference call with analysts. The sale, with total enterprise value of about $2.4 billion, is expected to close sometime before the end of the year. (Reporting by Ana Mano)

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