Business

Market roundup: Marfrig, BRF join forces in ‘high-steak’ move

One of Marfrig's top execs will become a BRF head at the end of September. Is this the first step toward a merger between the two protein producers?

brf marfrig meat
Photo: T. Schneider/Shutterstock

🔔 The dashboard: Brazil’s benchmark stock index Ibovespa lost 1.28 percent this week. Meanwhile, the Brazilian Real lost 2.15 percent against the U.S. Dollar this week.

  • Biggest gains: MRV Engenharia (construction): +17.04 percent.
  • Biggest drops: IRB Brasil (insurance): -38.07 percent.

Marfrig top exec will take over as BRF’s global CEO

After buying further BRF stocks and effectively joining the company’s board in recent months, meatpacking group Marfrig has now taken another step toward what analysts believe to be a gradual merger of both companies.

This week, BRF Global CEO Lorival Nogueira Luz Junior handed in his resignation letter and appointed...

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