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(Bloomberg) – Five companies have submitted firm offers to buy the badets of Keystone Foods, the US supplier of chicken nuggets for McDonald's owned by Marfrig, two people with direct knowledge of the case.
Keystone has attracted proposals from giants Tyson Foods, Cargill, Cofco, an unidentified Japanese company, and George's Inc., a family-owned chicken farmer based in Springdale, Arkansas, said that people, asking for money, are not going to get it. anonymity because the discussions are not public policies.
Marfrig is studying the offers and should complete the process soon, people said.
Marfrig, Cargill, Tyson declined to comment. Cofco's press office did not respond to a request for comments sent outside of opening hours. George did not respond to phone messages and emails for comments.
Marfrig plans to raise more than $ 3 billion from the sale, people said in May. The company, controlled by Marcos Molina, could also consider selling Keystone's businesses in the US and Asia separately, said one person at the time.
Marfrig hired JPMorgan to find a single buyer and would always prefer this result, said the person.
George & # 39; s Inc. is a public limited company with facilities in four US states and also offers prepackaged foods. In November, the company acquired Campos Foods, a manufacturer of cooked meat products, with a 85,000-square-foot plant in Tennessee, Arkansas.
Marfrig said in April that it would use a portion of the proceeds from the sale of Keystone to pay for its $ 969 million acquisition of control of National Beef Packing, the fourth largest beef packaging company in the United States. -United. The rest of the money will be used to pay the debts, which should reduce the leverage of the Brazilian refrigerator.
– With the collaboration of Shruti Date Singh, Megan Durisin and Mario Parker.
Reporters of the original story: Gerson Freitas Jr. in São Paulo, [email protected], Cristiane Lucchesi in São Paulo, [email protected]
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