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SÃO PAULO (Reuters) – The food company BRF intends to sell 5 billion reais in badets in the second half of this year, in a "house of rest "of the company involved in the meat scandal The company, owner of the brands Sadia and Perdigão, will sell its activities in Europe, Thailand and Argentina, concentrating its efforts in Brazil, Asia and the United States. Muslim market
In Brazil, the "adjustments" in their factories should result in a 5 percent reduction in the company's workforce or around 4,000 workers, if the information is used on the total number of employees available in the country.
"This is a brake at home, looking at what is absolutely fundamental, which is to improve the capital structure and reduce the leverage effect," said Pedro Parente. , director general of BRF in a telephone interview.
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 $ 5 billion reais to be raised also include the sale of real estate and non-operating badets and equity interests In a few hours earlier, company executives had informed badysts and investors that BRF was only going to reap 500 million reais from sales. non-strategic badets, stating that a decision had not yet been made on major divestments. Shares of the company closed at a maximum of 0.5%, to 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 would sell discounted badets when it was asked what would be the relatively short time to divest of the common size of operations, 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 Mr. Parente. Despite the fact that BRF sees good chances of selling badets as early as the second half of this year, Parente pointed out that the company has not yet hired banks to help sell the deals. "It's in the final stage of choice," he said.
After grain prices used to feed butchery animals rose sharply in 2016, the BRF was hit last year and this year by police investigations
Asked about the state current 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 led this year to an embargo European Union against exports of chicken from Brazil. China also adopted an anti-dumping measure that affected exports in the sector.
Regarding the sale of minority stakes in companies, the world vice president, Lorival Nogueira Luz Junior, also declined to comment. the alternatives will be evaluated. "The BRF had until the end of March 11.63 percent of the Minerva refrigerator.
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