Brazil’s Marfrig raises stake in competitor BRF to nearly 31.66%

Marfrig was increasing its stake in BRF after having bought about 24.23% of BRF's capital in May, but continues to claim it is a passive investment only.

RIO DE JANEIRO, BRAZIL - Marfrig Global Foods (MRFG3) meat processor has raised its equity stake in food company BRF (BRFS3) to approximately 31.66%, according to a notice to the market on Thursday.

"Marfrig reiterates that the acquisition of the aforementioned stake aims to diversify investments in a segment that complements its business sector," the company said in the notice to the Securities and Exchange Commission of Brazil (CVM).

Marfrig was increasing its stake in BRF through an auction on B3 (B3SA3). Last month, the company bought about 24.23% of BRF's capital.

On Thursday, June 3, Marfrig announced . . .

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