RIO DE JANEIRO, BRAZIL – (REUTERS) Brazilian pork and poultry processor BRF SA said JPMorgan Chase & Co’s controlling entities reached a “synthetic exposure” of 58.1 million common shares in the firm through derivatives transactions on May 20, representing 7.15% of BRF’s capital stock.
In a securities filing late on Tuesday, BRF said the derivative transactions had the exclusive motivation of supporting transactions with clients. JPMorgan Chase & Co is Marfrig’s financial advisor in the acquisition of BRF shares announced last week. JPMorgan does not intend to exercise voting rights granted to the holders of the shares.
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No regular dividend — earnings reinvested for growth.
What Marfrig Global Foods does. MBRF Global Foods Company S.A., through its subsidiaries, operates in the food industry in Brazil and internationally. It operates through Beef North America, Beef South America, and BRF segments. The company produces, processes, distributes, and sells animal-based proteins, such as beef, pork, lamb, fish, and poultry; pasta, margarine, vegetable, pet food, and…