June 29, 2018 / 3:22 PM / 5 months ago

Brazil's BRF expects to reap $130 mln from non-core asset sales

SAO PAULO, June 29 (Reuters) - Brazilian food company BRF SA expects to receive up to 500 million reais ($129.81 million) from the sale of non-core assets, investor relations director Eduardo Takeiti told analysts during a meeting on Friday, as the company tries to reduce debt.

The firm, hurt by a European Union ban on Brazilian poultry imports that impacted 12 of its plants, warned it is unlikely to reach its previous goal of reducing net debt to 3 times earnings before interest, taxes, depreciation and amortization (EBITDA) at year end from 4.4 times due to the tough operating environment.

$1 = 3.8517 reais Reporting by Ana Mano; Editing by Christian Plumb

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