UPDATE 2-Brazil's Marfrig expects to sell U.S. Keystone unit shortly [Reuters]
Tyson Foods, Inc. (TSN)
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Source: Reuters
Brazil's Marfrig expects to sell U.S. Keystone unit shortly | Reuters 2 Min Read SAO PAULO (Reuters) - Brazilian meatpacker Marfrig Global Foods SA expects to close the sale of its U.S. chicken processing unit, Keystone Foods, in the next few weeks, executives told journalists on Wednesday. Chief Financial Officer Eduardo Miron said the company is discussing the transaction in the United States this week. “We can close the deal any moment,” Miron said. Chairman and major shareholder Marcos Molina said the Keystone sale is the company’s “number one priority.” Proceeds will be used to reduce Marfrig’s debt, Molina added. Tyson Foods entered into exclusive talks to buy Keystone, a leading supplier of chicken nuggets to fast-food chain McDonald’s Corp in late July, Reuters reported, citing a source with knowledge of the matter. Miron declined to elaborate on the potential acquirer of the U.S unit. The company aims to reduce net debt to under 2.5 times earnings before interest, taxes, depr
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