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BRF completes Várzea Grande deal
South American producer BRF has announced that its deal to sell its Várzea Grande estate to Marfrig Global Foods has completed.
It has sold all real estate and equipment belonging to the unit located in Várzea Grande-MT. A supply agreement executed with Marfrig will also become effective, which means Marfrig will supply to BRF finished goods, such as hamburgers, meatballs, kibbehs, among others, for the next five years.
Earlier this month, BRF concluded the sale of its Argentina-based subsidiary Campo Austral for US$35.5m. This and several other recent disposals are part of its Financial and Operational Plan which was announced last June, with a view to accelerating the financial deleveraging of the company.
