QIA, BRF Buy Turkey’s Top Poultry Producer
January 11, 2017
Qatar Investment Authority (QIA), Qatar's sovereign wealth fund,
and the Brazilian food processor, BRF SA,
agreed to buy the operations of Turkish
poultry producer Banvit in a joint venture,
BRF said in a securities filing on Monday.
BRF said it would take a 60
percent stake in the venture and the Qatar
Investment Authority will take 40 percent in
a deal that calculates Banvit's enterprise
value at $470 million. The first phase of
the deal involves acquiring 79.5 percent of
Banvit, followed by a tender offer for the
rest of the company.