Marfrig negotiates with Previ and takes over the BRF board
On Monday, the 28th, Marfrig (SA:) managed to take a decisive step towards taking over the management of BRF (SA:), a food giant in which it holds a 33% stake. Founder Marcos Molina was elected chairman of the board of directors of the owner of the brands Sadia and Perdigão and obtained the approval of the entire slate proposed for the collegiate. The current chairman of the board of Santander Brasil (SA:), Sergio Rial, was chosen for the vice-presidency at BRF.
The election of the ticket took place after a seam between Molina and the employees’ pension fund of Banco do Brasil (SA:) (Previ) over the weekend. The name of former Central Bank director Aldo Mendes was incorporated into the group as the foundation’s representative. Previ has a 5.26% stake in the company and has been a partner in the company since 1990.
For years without a defined controller, the election of the board by a slate indicated by Marfrig shows that BRF could be a company with an “owner’s eye”, according to market analysts.
Before Marfrig’s advance over BRF via stock purchases on the Stock Exchange, the companies even announced a merger agreement in 2019. The agreement would create a global company with more than 100 factories. However, there were disagreements over management, and the companies gave up on the deal.
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