Moody's: Brasil Foods, Marfrig unchanged

Moody's Investors Service noted that Brasil Foods SA and Marfrig Alimentos SA announced a binding agreement on the sale and exchange of certain assets according to the agreement Brasil Foods entered into with the Brazilian Antitrust Commission in July.

The agreements calls for the sale of certain industrial food-processing business of Brasil Foods in exchange for a part of Marfrig's quick food operation in Argentina and in Brazil.

With regard to Brasil Foods, the agency said it considers the deal as credit positive since it complements the company's internationalization strategy, Moody's said.

As for Marfrig, the agency said it believes the assets received have synergies with the company's protein divisions and can help them develop further the processed products business in Brazil.

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