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Blackstone, banking PE arms eyeing Marfrig Alimentos stakes

24 Aug 2012

Buyout giant Blackstone and the private equity units of JP Morgan and Banco Bradesco are interested in Brazil’s second-biggest food group Marfrig Alimentos, it is understood.

Marfrig has hired Banco Itau to help it raise about $990m through stake sales according to Bloomberg, which said talks were in a preliminary stage.

It said Tyson was attempting to reduce a debt pile amassed by making 20 acquisitions over five years to compete with BRF – Brasil Foods.

The company produces cooked and uncooked meats such as hot dogs, burgers and premium cuts of beef.

US buyout giant KKR is also eyeing the booming Latin American country after hiring former Central Bank of Brazil governor Henrique Meirelles as its first Brazil representative.

Meirelles, the latest in a string of high-profile special adviser appointments by the firm, will handle its business development efforts in Brazil and Latin America.

He joined an increasingly experienced investment advisory team including former Morgan Stanley head John Mack, ex-HSBC Holdings group chairman Sir John Bond and former Caterpillar CEO James Owens.

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