August 2, 2015 / 10:51 PM / 3 years ago

Controlling shareholder of Brazil's Marfrig may sell shares

SAO PAULO, Aug 2 (Reuters) - MMS Participacoes Ltda, the controlling shareholder of Brazil’s meat processor Marfrig Global Foods SA, will be allowed to sell a portion of the shares it owns in the business, according to a filling with Brazil’s market regulator on Sunday.

MMS Participacoes, owned by Marfrig’s chairman Marcos Molina, entered an agreement with BNDESPar, the investment arm of Brazil’s development bank BNDES, to have the right to unlink 20 percent of the shares it owns in Marfrig.

MMS owns around 28 percent of Marfrig, while BNDESPar is the second largest shareholder with almost 20 percent.

The agreement does not cite any specific date for possible share sales by MMS.

Marfrig Global Foods is one of the largest meat processors in the world, with operations in the Americas, Europe and Asia.

It controls Keystone, a major supplier of restaurant chains in the United States.

In June, Marfrig sold its European poultry division Moy Park to Brazil’s JBS, the largest meat processor, for $1.5 billion. (Reporting by Marcelo Teixeira)

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