Brazil's Marfrig Terminates Contract to Sell Uruguay Plants to Minerva

Food processors Minerva and Marfrig told investors on Friday they disagree over the termination of a contract involving the sale of three beef plants in Uruguay.

Marfrig agreed to sell the Uruguayan assets to Minerva in August 2023 for 675 million reais ($124.51 million). The deal comes undone at a critical moment for Brazilian beefpackers, who now face a new 50% tariff to sell beef and other products to the United States, making ownership of plants in other countries an advantage...

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