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BRF (BRF / Divulgação) [BRF / Publicité]
São Paulo – Due to changes in the timing and arrival of the Christmas and New Year holidays, the final negotiations of the Company for the sale of badets should be finalized in January 2019, instead of the originally scheduled date, in order to finalize the disposal plan at the end. this year.
The owner of the brands Sadia and Perdigão had announced a plan to raise $ 5 billion in badets in 2018 to reduce their debt and leverage, namely the ratio of debt to Ebitda , at 4.35 this year and up to 3 times by the end of next year. This plan should be delayed by a few weeks.
The company today announced the sale of Avex, an operation in Argentina, for 50 million reais. Avex has the capacity to slaughter 160,000 birds a day and treats more than 10,000 tonnes a month of products such as margarines, sauces, olive oil and cooking ingredients. The announcement pleased the market and shares rose.
In addition, he concluded the creation of a credit-rights investment fund (Fidc), which obtained an initial distribution of $ 875 million reais in allowances. Fidc's objective is to acquire credit rights from commercial transactions with customers in Brazil, that is, the definitive sale of receivables.
On December 7, he sold the Argentine QuickFood to Marfrig for $ 60 million. The agreement also provides for the sale of BRF land and equipment in Várzea Grande (MT) for R $ 100 million.
Thus, out of a total of 5 billion rand, he raised 1.9 billion rand for the sale of badets and 1 billion rand for debt negotiations and refinancing.
This amount should be used for payments. debts in the first half of next year – it still lacks funds to cover debts maturing in the second half of the year, amounting to about 1.5 billion reais.
Active in trading in Europe and Thailand, in addition to the Austral field operation of pigs in Argentina. Less valuable real estate and non-operating badets may also be sold . "We give priority to the conclusion of the negotiations in Argentina announced today and at the beginning of the month." These agreements, initially planned for the end of the year, should be finalized in January. As a result, we have given potential buyers an extra week to send out more robust and competitive proposals, "said Sadia's vice president of operations, owner of the company, in Lourival Luz, during a meeting with conference call with investors
the proposals will be closed later this week.After that, the company should badyze them in detail. "These are dozens of pages and complex terms. Thailand and Europe still have different geographical areas and legislations that must be taken into account, "said Vice President.
" Christmas is coming. We will let our employees and our buyers enjoy the family celebrations and we will have to close our business in early 2019. "
Despite the slight delay of the plan, the director says that the new agenda is consistent with the company's goals." I will not give up trading on better terms for a week, that has no financial meaning. "
The director also pointed out that there is no central or relevant badet for the company to be n & # 39; 39 is for sale On the international market, the BRF project focuses on consolidating its leadership in Saudi Arabia and the Gulf Cooperation Council countries, while increasing production in Turkey. suffered a loss of one billion reais in 2017 and participated in the Faint Meat operation of the federal police, has a slow but sober plan.
recovery. Pedro Parente, chairman of the board of directors 39, administration, ar embraced the company in April and submitted a five-year turnaround plan in October.
Parent explained that the BRF should stop worsening in 2018 and that, if all goes well, it will only begin to reverse the decline in margins in 2019. The new management stresses that the expected pace of growth is made possible by the complexity of the operation.
The negotiations scheduled for the end of 2018 will remain for next year but, according to the company, the delay is in line with its objectives.
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