Brazilian meat packer shares tumble
Shares in a Brazilian meat packer have slumped, fuelling speculation that it may be forced to sell some of its brands and plants, a Brazilian newspaper has revealed.
The Valor Economoico newspaper reported that BRF Brasil Foods SA has seen shares fall by 7.1%, the largest decline since 2008, amid concerns that assets will have to be sold. A report by the Brazilan anti-trust agentcy said that he company, which was formed in a merger in 2009, must allow competition and may potentially have to share gains from the deal with its customers.
Rivals Marfrig Alimentos SA and JBS SA have been named as the most obvious potential buyers for the brands.
Marfrig’s press agency said that the company does not comment on market rumours.