Marfrig-BRF Deal Faces CADE Scrutiny Amidst Controversy

Brazil's antitrust authority, CADE, has deferred its final decision on Marfrig's proposed acquisition of BRF. CADE's president, Gustavo de Lima, suggested a more extended review, although the majority of commissioners initially disagreed. Lima aims to resubmit his recommendation during a future in-person meeting. This merger would create a significant global food producer from Brazil, with operations in regions such as the United States, the Middle East, and China. Initially approved via a fast-track process in June, the merger was met with opposition from rival Minerva, urging CADE to reassess due to shared minority shareholder SALIC International Investment Company. SALIC, owning stakes in both BRF and Minerva, has declared itself a non-influential, passive investor in both entities.