Minerva S.A. (BOVESPA:BEEF3) made a non binding offer to acquire Breeders & Packers Uruguay S.A from NH Foods Ltd. (TSE:2282) on November 21, 2022. As of January 31, 2023, Minerva S.A. (BOVESPA:BEEF3) entered into an agreement to acquire Breeders & Packers Uruguay S.A from NH Foods Ltd. (TSE:2282), NH Foods Chile Y Compañía Limitada, NH Foods Australia Pty. Ltd for an enterprise value of $40 million.

The transaction is subject to a due diligence process expected to be wound up by the end of 2022. As of January 31, 2023, the transaction is subject to the fulfillment of conditions precedent usual to this type of transaction, including approval by the competent competition authorities and is expected to close on October 31, 2023. Rabobank Corporate Finance Advisory acted as financial advisor to Minerva S.A. (BOVESPA:BEEF3).