Adds remarks from executives at press convention
Adds remarks from executives at press convention
SAO PAULO, Nov 25 (Reuters) – Brazilian meals firm Minerva SA BEEF3.SA on Monday stated it’s aiming for an preliminary public providing (IPO) of its Athena Meals subsidiary in April 2020, regardless of dangers related to the operation in Argentina, the place the division will get about 30% of its internet gross sales.
In line with firm managers, uncertainty associated to Argentina’s economic system after the election of a left-wing authorities shall be key to find out the destiny of the transaction.
“If threat aversion continues to be excessive (in Argentina), the IPO might develop into inviable,” Chief Monetary Officer Edison Ticle advised a press convention.
Athena, which additionally operates in Uruguay, Paraguay, Colombia and Chile, is a number one South American producer and exporter of recent beef and cattle by-products, accounting for 12% of beef exports out of continent, in keeping with an organization presentation.
Initially scheduled to be…