Brazil's BRF makes binding offer for stake in Qatar's QNIE unit

lunes 5 de octubre de 2015 17:13 GYT

SAO PAULO Oct 5 (Reuters) - BRF SA, the world's largest poultry producer, has made a binding offer to purchase a stake in Qatar National Import and Export Co's frozen food distribution unit, part of a strategy to expand in markets such as the Middle East and Asia.

In a securities filing, BRF said that it had signed a binding memorandum of understanding with QNIE, as the Qatari company is known, for the stake, which is valued at $140 million. The purchase, if signed, requires Qatari regulatory approval, the filing added. (Reporting by Guillermo Parra-Bernal; Editing by Bernard Orr)