SAO PAULO--Brazilian beef producer Minerva S/A (BEEF3.BR, MRVSY)
plans to sell 37.5 million shares via a global offering, in an
operation that could amount to 413 million Brazilian reais ($204.6
million), the company said over the weekend in a statement.
Minerva said that the shares sale will be partly via a primary
offer and partly via the sale of shares of its existing
shareholders.
The company hired BTG Pactual, Credit Suisse Group AG (CS,
CSGN.VX), HSBC Holdings PLC (HBC, HSBA.LN, 0005.HK) and Morgan
Stanley (MS) to coordinate the operation. It did not unveil a
timetable for the shares offer.
Minerva said that it plans to use the proceeds to reinforce its
capital structure and to finance its investment plans.
Recently, Minerva's shares were down 6.3% at BRL11.05, while the
main local stock market index, the Ibovespa, was down 0.18%.
Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com
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