Linklaters Advises Marfrig Global Foods S.A. on Merger with BRF S.A.
A cross-border Linklaters team advised Marfrig Global Foods S.A. (“Marfrig”), a leading Brazilian meat producer, on its proposed merger with BRF S.A. (“BRF”), one of the largest food companies in the world, to form MBRF Global Foods Company (“MBRF”). MBRF will be a major global food company built on a fully integrated multiprotein platform with operations in 117 countries and consolidated net revenue of US$26.8 billion.
The transaction involves the incorporation of BRF shares by Marfrig at an exchange ratio of 0.8521 Marfrig shares for each BRF share. As part of the agreement, BRF shareholders will receive up to R$3.52 billion in dividends, while Marfrig shareholders will receive R$2.5 billion. Together, the companies have consolidated net revenue of R$152 billion over the past 12 months and hold 38% of the processed product portfolio.
The Linklaters team was led by Partner Matthew Poulter in São Paulo and included Associates Thomas Lemouche and Caroline Aguiar, Foreign Attorney Julia Avelin Ribeiro, Staff Attorney Letícia Correia, and Legal Intern Lucas da Riva.
In New York and Washington, D.C., the team included Partner and Head of U.S. Antitrust & Foreign Investment Antonia Sherman, Capital Markets Partner Jeffrey Cohen, M&A Partner Pierre-Emmanuel Perais, Tax Partner Gabriel Grossman, Senior Counsel Jonathan Gafni, IP Transactions Counsel Shruti Chopra, Tax Associates Bernard Yi and Flávio Amorim, Antitrust Associates Anna Gooding, Zita Petrahai, Ray Hou, and Joseph Nasca, and Law Clerk Bhavishya Barbhaya.
In London, Partner Mike Bienenfeld provided corporate support.
In Brussels, Partner Lodewick Prompers provided antitrust support.
Linklaters’ lawyers have practiced in Latin America for decades and the firm was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across the firm’s New York, Washington, D.C., and São Paulo, the firm continues to increase its presence in the Latin America region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories including Chambers, Legal 500, and Latin Lawyer.
