July 31, 2017 / 11:07 PM / a year ago

UPDATE 1-Mexico's Lala values Brazil's Vigor at $1.8 bln -source

(Adds details on the bid)

SAO PAULO, July 31 (Reuters) - Mexico’s Grupo Lala SAB de CV is close to acquiring Brazilian dairy company Fábrica de Produtos Alimentícios Vigor SA, a person with knowledge of the matter said on Monday.

Lala valued Vigor, including subsidiary Itambé, at 5.7 billion reais ($1.8 billion) in the bid to controlling shareholders J&F Investimentos SA and JBS SA for the company, said the person, requesting anonymity to discuss the issue freely.

J&F and JBS declined to comment. Lala did not immediately comment.

$1 = 3.1268 reais Reporting by Tatiana Bautzer; Editing by Guillermo Parra-Bernal, Grant McCool and Richard Chang

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