June 6, 2018 / 11:20 AM / a year ago

Brazil's BRF says unaware of formal process for Minerva tie-up

SAO PAULO, June 6 (Reuters) - Brazilian food processor BRF SA said on Wednesday it was not aware of any “formalization” regarding a possible merger with competing food processor Minerva SA.

Financial blog Brazil Journal said on Tuesday that Minerva was contacting potential investors to finance a capital increase to merge the two companies in a deal worth up to $3 billion. Minerva later said in response to the report it has not proposed any investment in a tie-up.

“BRF did not receive any formalization from Minerva or from any foreign or national investor regarding the aforementioned transaction,” BRF said in a Securities and Exchange Commission filing on Wednesday. (Reporting by Gram Slattery; Editing by Bernadette Baum)

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