The Saudi Agricultural and Livestock Investment Co. (SALIC) has sold its entire equity stake in BRF, which amounts to 185,556,900 shares.
BRF announced the transaction in a securities filing, which can be found on the BRF investor relations webpage.
According to the notice, SALIC stated that the transaction “enhances portfolio flexibility and risk management, streamlines cross-border execution and settlement and ensures governance neutrality during and after the merger process.”
The Brazil-based BRF is pursuing a merger with Marfrig Global Foods, also headquartered in Brazil.
The shares held by SALIC represented just over 11% of BRF’s total share capital.
SALIC invested in BRF, which has operations in the Middle East in 2024. At the time, SALIC about 10.7 percent of BRF’s total outstanding shares. In doing so, SALIC said the investment reflects its ongoing expansion to achieve global and local food security strategic mandates.
BRF is primarily known as a poultry and pork producer, ranking as the world’s third largest poultry producer, having slaughtered 1.67 billion broilers during the past year, according to the WATTPoultry.com Top Poultry Companies Database. BRF is also the 14th largest feed producer. In 2021, BRF became a major player in the Brazilian pet food market with the acquisitions of established manufacturers Hecosul and Mogiana.
Marfrig Global Foods is primarily known as a beef producer, but its slaughter activities also include cattle, horses, pigs, goats, sheep, poultry and buffalo. Marfrig is also the world’s 132nd largest feed producer, and is the former owner of Keystone Foods, which was acquired by Tyson Foods in 2018.
The proposed merger has been approved by shareholders of both companies and remains subject to regulatory approval. If the merger is completed, the combined company will be known as MBRF Global Foods Company SA.
