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Poultry Company Mega–Merger Stalls

by 5m Editor
9 June 2011, at 10:58am

BRAZIL - The country's competition authority has postponed its decision on the merger between Perdigão and Sadia, pending further review.

The management of Brasil Foods S.A. (BRF) has announced that, within the terms of Instruction No. 358/02 and § 4 of art. 157 of Law No. 6.404/76 of the Brazilian Securities and Exchange Commission (CVM), the process related to the merger between Perdigão and Sadia, which led to the creation of BRF Brasil Foods, started to be decided at an ordinary session of the Administrative Council for Economic Defense (CADE), held yesterday, 8 June, in Brasília.

The counsellor in charge of the process expressed his vote by not approving the transaction and requested a further review of the process. As a result, the final decision is postponed until a new date for the continuation of the session.

Therefore, there is no final decision yet in the administrative sphere of CADE, with four more counsellors still to express their formal vote.