Argentina turmoil derails IPO of Minerva’s South American unit

Sao Paulo-based beef giant Minerva SA is withdrawing a planned IPO of Athena Foods in Chile amid market turmoil and economic uncertainties in Argentina. A trading debut in Chile was part of Minerva’s strategy to lower debt. Instead, the company opted to sell shares in Brazil. Athena, which holds Minerva’s operations in Argentina, Chile, Colombia, Paraguay and Uruguay, will continue as a Minerva subsidiary.

Source: Bloomberg

Categories: Business, Geopolitics, Industry

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