August 20, 2018 / 10:38 AM / in 2 months

Brazil's Marfrig sells Keystone for $2.4 billion: statement

SAO PAULO (Reuters) - Brazilian meatpacker Marfrig Global Foods (MRFG3.SA) said on Monday it had closed a deal to sell its indirect subsidiary Keystone Foods Holdings Limited to U.S. firm Tyson Foods Inc. (TSN.N).

FILE PHOTO: Marfrig Global Foods SA executives Martin Secco Arias, Chief Executive Officer, and Eduardo Miron, Chief Financial Officer, attend a news conference in Sao Paulo, Brazil April 9, 2018. REUTERS/Paulo Whitaker

The enterprise value of the transaction was about $2.4 billion, Marfrig said in a statement, adding that the proceeds would be used to reduce debt and boost Marfrig’s capital.

Reporting by Ana Mano; Editing by Edmund Blair

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