August 1, 2017 / 9:54 PM / 8 months ago

Board of Mexico's Lala to decide on Vigor purchase on Thursday

SAO PAULO, Aug 1 (Reuters) - The board of Mexican dairy producer Grupo Lala SAB de CV will decide on Aug. 3 on a bid to buy control of Brazilian rival Vigor Alimentos SA, after a deal was clinched earlier on Tuesday.

In a Tuesday statement, Lala said a proposal to acquire Vigor from investment holding company J&F Investimentos SA, including a borrowing plan and a potential share offering, will be submitted to discussion at the board.

São Paulo-based J&F and Vigor did not have an immediate comment. Reuters reported on Monday that Lala’s bid valued Vigor at $1.8 billion. (Reporting by Tatiana Bautzer; Editing by Chris Reese)

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