Keystone Foods to be acquired by Tyson Foods for USD 2.5bn - report (translated)
17 AUG 2018
Marfrig [BVMF:MRFG3], a Brazilian food company, has reached an agreement to sell West Chester, Pennsylvania-based meat supplier Keystone Foods to Springdale, Arkansas-based Tyson Foods [TSN:NYSE] for USD 2.5bn, Brazilian newspaper, Valor Economico reported without citing sources.
As part of the agreement, Marfrig will remain with only one hamburger factory of Keystone in the US, the Portuguese-language article noted.
Marfrig was expecting to raise USD 3bn with the sale, but with the drop in poultry prices in the US, the deal value was set at USD 2.5bn, the article explained. No further information was provided.
The Brazilian company retained JPMorgan Chase & Co. to handle the transaction, as reported.
Link to original source.