Groupe Smithfield and Spain’s Campofrío could merge
25/06/2008
Smithfield Foods, the largest producer of hogs in the US, has announced that its Groupe Smithfield European subsidiary is in merger talks with Spanish processed meat company, Campofrío Alimentación.
Smithfield already owns 24% of Campofrío, which would mean it would have a 36% stake in the newly merged company if the deal goes ahead.
The company said that Groupe Smithfield and Campofrío have entered into a non-binding memorandum of understanding, which has established the preliminary terms and conditions for a potential merger.
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