Marfrig's Molina takes control over BRF
Marcos Molina, the man who founded Marfrig, one of the largest beef producers in Brazil, is now taking control over BRF after being appointed as the new chairman of the company. Since 2021, Marfrig has become BRF's largest shareholder, with a 33.3% stake. Talks about a merger between the two Brazilian meat giants were held in 2018 and 2019 but with no result.
Marcos Molina has been appointed the new chairman of BRF at the beginning of the week and market analysts expect discussions about a merger to be resumed in the following months.
At a shareholders meeting, BRF also approved the appointment of Santander Brasil Chairman Sergio Rial as vice-president of the board, according to the meeting minutes. Rial's nomination was also proposed by Marfrig.
Marfrig started building its stake in poultry and pork processor BRF in May 2021 but said at the time the move was aimed at diversifying its holdings rather than influencing management.
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