June 29, 2018 / 10:00 PM / 6 months ago

Brazil's BRF launches restructuring plan, to sell assets in Europe

SAO PAULO, June 29 (Reuters) - Brazil’s BRF SA, one of the world’s largest pork and poultry processors, announced on Friday a large restructuring plan that includes selling operations in Europe, Argentina and Thailand to cut debt.

In a securities filing and a conference call with investors and analysts, the company said it will adjust operations in 22 of its 35 plants to match production to smaller demand. It plans to raise 5 billion reais with asset sales and securitization of receivables. (Reporting by Marcelo Teixeira Editing by Chris Reese)

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