Welcome!

SYS-CON UK Authors: Salvatore Genovese, Jamie Matusow

News Feed Item

Brasil Foods S.A. Acquires Minority Interest of Avex S.A.

SAO PAULO, Dec. 31, 2012 /PRNewswire/ -- BRF – Brasil Foods S.A. ("BRF" – BM&FBovespa: BRFS3; NYSE: BRFS) pursuant to CVM Rule 358, of January 3, 2002 and article 157, paragraph 4, of Law 6.404/76, hereby announces that it acquired 1/3 of the minority interest of Avex S.A., and through the latter, it acquired the remaining interest in the companies Flora Danica S.A., Flora San Luis S.A. and GB Dan S.A. ("Grupo Danica"), all headquartered in Argentina.

(Logo:  http://photos.prnewswire.com/prnh/20090710/SPF002LOGO )

The transaction shall be completed within 90 days, under the terms of the agreement executed between the parties and foresees a US$ 40.5 million investment.

This transaction will allow BRF to integrate its business in Argentina, including the operations of Quickfoods (acquired in July), as well as to gain synergies for integrated business.

Leopoldo Viriato Saboya

Chief Financial and Investor Relations Officer



SOURCE Brasil Foods S.A.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.