SAO PAULO, Aug 28 (Reuters) - Brazilian meatpacker Marfrig said on Monday it will sell 16 slaughtering plants to rival Minerva for 7.5 billion reais ($1.54 billion), in a deal that will significantly reduce its operations in South America.

With the sale, Marfrig, which also controls National Beef and BRF SA, is looking to slim down its regional operations and retain only its larger-scale industrial complex, to focus on "higher value-added products".

The units, including three that are not currently active, are located in Chile, Brazil, Argentina and Uruguay, Marfrig said in a securities filing.

Marfrig said it had received a downpayment of 1.5 billion reais, with the remainder to be paid at the deal's closing date, which is still unconfirmed pending shareholder and regulatory nods.

Minerva said in a separate filing it had received a firm financial commitment from J.P. Morgan.

($1 = 4.8731 reais) (Reporting by Peter Frontini and Carolina Pulice Editing by Chris Reese and Sarah Morland)