SAO PAULO (Reuters) -Brazilian securities regulator CVM suspended an extraordinary shareholder meeting to vote on the takeover of poultry and pork processor BRF by beef processor Marfrig, newspaper O Globo reported on Monday.
The report said CVM suspended the meeting set to happen later this week after complaints filed by BRF’s minority shareholder Latache, a Brazilian asset manager.
Under the plan announced in mid-May, Marfrig, which already owns a controlling stake in BRF, would complete its takeover in a share-swap deal.
Shareholders from both companies were set to vote on the deal on June 18 in separate meetings. It was not immediately clear which of the meetings was suspended, or if both were.
BRF declined to comment. Marfrig and CVM did not immediately respond to requests for comment outside normal business hours.
BRF and Marfrig have previously said that the takeover was subject to approvals, including in the respective shareholders’ meetings.
(Reporting by Andre Romani and Patricia Vilas Boas; Editing by Kylie Madry)
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