Brazilian meatpacker Minerva BMFBOVESPA:BEEF3 said on Thursday that Uruguay's competition authority has issued an unfavorable decision regarding the firm's plan to acquire three plants owned by MBRF (MBR3.SA) in the country.
Marfrig, which controlled the plants prior to its recent merger with BRF, agreed to sell the Uruguayan assets to Minerva in August 2023 for 675 million reais ($126.31 million), but the deal was subject to approval from local competition authorities.
($1 = 5.3441 reais)