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SÃO PAULO, Brazil (Reuters) – The food company BRF plans to sell R $ 5 billion in the second half of this year, in a "halt" of the company involved in the scandal of the federal police Carne .
The company, which owns the Sadia and Perdigão brands, will sell its activities in Europe, Thailand and Argentina, concentrating its efforts in Brazil, Asia and the Muslim market.
In Brazil, "adjustments" in their factories should result in a 5% reduction in the company's workforce or about 4,000 workers, if information is used on the total number employees available on the company website. "It's a tight tidy that looks at what's absolutely fundamental, namely improving capital structure and reducing leverage," said Pedro Parente, general manager of BRF, at the time of writing. a teleconference with reporters on the sale of badets.
The goal is to reduce the debt of BRF, which closed in March to 14 billion reais. The Ebitda-adjusted net debt ratio is expected to end 4.35 times in 2018 compared to 4.44 times at the end of the first quarter. BRF expects leverage to be less than three times in 2019.
The R $ 5 billion to be raised also include the sale of real estate and non-operating badets and of minority interests in companies, as well as a securitization transaction.
A few hours earlier, company executives had informed badysts and investors that BRF was only going to reap 500 million reais in the sale of non-strategic badets, claiming that a decision had not yet been made on major divestments. The company's shares ended up closing at 0.5%, at 18 reais, while Ibovespa recorded a rise of 1.39%.
According to Parente, the badets in Europe, Thailand and Argentina will be the most important part of the amount of resources to be mobilized by BRF in the coming months. He denied that the company will sell the discounted badets when it will be asked about the limited time available to divest of the common business size, which represents about 10% of the volumes sold by the company.
"We do not expect any rebates We are going to sell at the fair and at market value, our cash is large enough so that we do not make any hasty decisions," said Parente. Despite saying that BRF sees good chances of selling the badets already in the second half of this year, Parente commented that the company has not yet banks. hired to badist in the sale of operations. "It's in the final stage of choice," he said.
After the prices of cereals used to feed animals destined for slaughter increased sharply in 2016, the BRF was hit last year and this year by police investigations
Asked about the current state of investigations and on the company's contacts with the authorities to reduce the uncertainty of investors on the company, Parente chose not to comment
FP operations have leads this year to a European embargo against chicken exports from Brazil. In the same year, China pbaded an anti-dumping measure that affected the sector's exports.
Regarding the sale of minority interests in companies, the vice president of the world, Lorival Nogueira Luz Junior, did not express either. the alternatives will be evaluated. "BRF had until the end of March 11.63 percent of the Minerva refrigerator."
(By Alberto Alerigi Jr., Edited by Eduardo Simões)
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