Monday, March 23, 2020

Marcos Molina wants to reach 51% of Marfrig and takes advantage of low price

Marfrig's founding partner, Marcos Molina, continues to increase his stake in the company in stock exchange operations and wants to reach a 51% share, compared to a 45% share – 34% at the end of last year. To reach his goal, Molina has made loans and term purchases to acquire the paper. In this type of transaction the person undertakes to buy a certain asset for a predefined price. Account. To avoid being diluted in Marfrig's subsequent offer (follow on) in December last year, in the operation in which the National Bank for Economic and Social Development (BNDES) sold its stake in the refrigerator, Molina participated in the priority offer, disbursing almost R$ 400 million. At the time, he bought the stock at R $ 10, value that the paper was priced in the offer. Today the stock is worth 30% less, given the risk aversion in the markets. Wanted, Marfrig and the executive did not comment.
O Estado de S.Paulo - 22/03/2020 News Item translated automatically
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