December 7, 2019 / 7:21 PM / a month ago

Brazil meatpacker Marfrig announces secondary offering allowing BNDES to divest

SAO PAULO, Dec 7 (Reuters) - Brazil meatpacker Marfrig announced a secondary offering late on Friday that will allow state development bank BNDES to sell a 34% stake in the company, which could raise around 2.3 billion reais ($548.09 million) according to the latest share price.

BNDES has been eyeing selling over $27 billion reais in listed assets, the bank said earlier this year.

Marfrig also announced it will issue 90 million new shares, which could bring the total amount raised to 3.3 billion reais. Pricing is expected to take place on Dec. 17, Marfrig said in a securities filing. ($1 = 4.1964 reais) (Reporting by Marcelo Rochabrun Editing by Chris Reese)

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