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UPDATE 1-Brazil food processor BRF's shareholders approve follow-on offering

Reuters
·1 min read

(Adds more information on offer, context)

SAO PAULO, Jan 17 (Reuters) - Brazilian food processor BRF's shareholders approved a follow-on share offering on Monday, according to the minutes of their meeting.

The capital increase will happen through the issuance of 325 million new common shares.

Based on Monday's closing price, the offering could raise up to 8 billion reais ($1.45 billion).

In December, when it was announced, the move prompted analysts and market players to speculate whether minority shareholder Marfrig Global Foods SA intended to acquire a controlling stake in the company without the risk of triggering a poison pill.

($1 = 5.5165 reais) (Reporting by Peter Frontini; Editing by David Gregorio)