Sadia to be Integrated into Brasil Foods
BRAZIL - Brasil Foods has announced it will bring its poultry meat subsidiary, Sadia AS, into the parent company by the end of this year.
13 February 2012
2 minute read
By: Brasil Foods S.A. (BRF) has announced that, following the provisions of CVM (Brazilian Securities Commission) Instruction No 358/02 and Paragraph 4 of Article 157 of the Brazilian Corporations Act (Law No. 6.404/76), the Company‘s management at the Board Meeting held on 9 February 2012 has decided that the wholly-owned subsidiary Sadia S.A. will be incorporated into its Parent BRF – Brasil Foods S.A. in 2012.
BRF explains that it holds all shares that represent the capital stock of Sadia S.A. The expected date of the merger is 31 December 2012.
The merger is part of the reorganisation which started with the business combination between the two companies in 2009. Its main purpose is to accomplish the full integration of the BRF and Sadia businesses, seeking to maximise synergies and to rationalise activities, with consequent reductions in administrative and operating costs and increased productivity.
Further Reading
 |
- | You can view the full press release by clicking here. |
