🔔 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.
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 Miguel de Souza Gularte, Marfrig’s top South America executive, as his replacement.
State of play. Since March 2021, Marfrig has been BRF’s largest shareholder, with a 33.25-percent stake. At the time, Marfrig said that it was just aiming to diversify its holdings rather than influence BRF’s management.Â
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