IPO underway for Minerva’s Chile subsidiary

Chile
Published:  02 May, 2019

Brazilian meatpacker Minerva Foods announced on April 29 that the initial public offering (IPO) for its subsidiary in Chile, Athena Foods, is underway.

Athena Foods announced its IPO on the Santiago Stock Exchange (Bolsa de Valores de Santiago) on April 29. The Company expects the transaction to conclude by the end of May, in accordance with the timeline announced to the market on August 7, 2018. As previously reported by ILM, Minerva Foods said the plan was to be preceded by a capital injection into Athena and its holdings in Paraguay, Uruguay, Argentina and Colombia.

In November, the meatpacker was reported to sign a Memorandum of Understanding (MoU) with China based e-commerce platform AliBaba Group, along with five other companies, to supply frozen beef for a period of five years. Read more here.