Brazil’s Minerva Files IPO

Brazil’s fourth largest beef exporter, Minerva, filed with Brazil’s CVM to list an IPO of its shares on the Novo Mercado. Credit Suisse is coordinating. Proceeds are to expand production capacity and for possible acquisitions. Minerva will be the third Brazilian beef processor to list its shares on the local stock exchange. In March, Brazil’s JBS SA, which controls leading beef exporter Friboi, raised 1.6bn reais from an IPO, according to Dealogic. In April, Marfrig filed an intention with the CVM to list its shares. Bertin is also rumored to be interested in going public. JBS has the lead in the rapid expansion of Brazil’s beef sector. It announced Tuesday it is buying Swift, the third-largest U.S. processor of beef and pork, for $1.4bn, which should make it the largest beef company in the world.