Concerns raised about Minerva takeover bid
Union representatives and government ministers have raised concerns over the proposed acquisition of a meat plant there by Brazilian group Minerva.
In mid-November, Minerva announced its intention to acquire a company called Breeders and Packers Uruguay (BPU) from current owner, Japanese group, NH Foods.
Now, though, the president of meat industry workers’ union Foica, Martín Cardozo, has expressed concerns about the development.
In comments to local media, Mr Cardozo pointed out that Minerva already runs three meat plants in Uruguay, without using them to full capacity. “We don’t know how Minerva would handle a fourth plant,” he said.
Farmers’ leader Martín Uría said livestock suppliers in Uruguay were worried about the prospect of two groups, Minerva and Marfrig, having control of 55% of the country’s biggest export earner.
And from the government’s perspective, the minister with responsibility for the livestock sector, Fernando Mattos, said at a press conference that if the takeover of BPU by Minerva were confirmed, it would need to be approved by the competition authorities.
The question of only two companies having such a large share of the country’s meat exports would be part of the analysis the authorities would carry out, he said.
