MBRF Agrees to $2 Billion Meat Asset Deal With Saudi Fund

Marfrig Global Foods SA agreed to a $2 billion transaction with Saudi Arabia’s Public Investment Fund as the Brazilian meat producer seeks to expand its presence in the Halal market.

MBRF will contribute its Middle East processing plants and distribution assets to a Saudi-based joint venture, which is eyeing an IPO in Riyadh by 2027, the Sao Paulo-based company said in a Monday filing. A PIF subsidiary plans to inject a total of $500 million in MBRF as part of the transaction and own a 30% stake in the unit to be named Sadia Halal, according to MBRF.

MBRF ...