Minerva S.A. (BOVESPA:BEEF3) agreed to acquire Certain cattle and sheep slaughter units from Marfrig Global Foods S.A. for BRL 7.5 billion on August 28, 2023. The sale price of the Transaction's Assets is BRL 7.5 billion, with a down payment of BRL 1.5 billion received on August 28, 2023, recorded under ?Advance for asset sale? and the balance of BRL 6 billion to be paid at the closing of the transaction.

Marfrig Global Foods S.A. decided to sell certain cattle and sheep slaughter units in Argentina, Brazil, Chile and Uruguay, which are part of the Beef South America segment, to Minerva S.A. The Assets involved in the Transaction are (1) in Brazil the following cattle slaughter units: (i) Alegrete, in Rio Grande do Sul; (ii) Bagé, in Rio Grande do Sul; (iii) Bataguassu, in Mato Grosso do Sul; (iv) Chupinguaia, in Rondônia; (v) Mineiros, in Goiás, (vi) Pontes e Lacerda, in Mato Grosso, (vii) São Gabriel, in Rio Grande do Sul, (viii) Tangará da Serra, in Mato Grosso and three dormant units (2) In Argentina the Villa Mercedes cattle slaughter unit; (3) in Chile the Patagonia sheep slaughter unit; and (4) in Uruguay: the following cattle slaughter units (i) Colônia, (ii) Salto and (iii) San José. The completion of this transaction is subject to regulatory and competitive approvals, which is estimated to occur in the second half of 2024. JPMorgan Chase & Co.

(NYSE:JPM) acted as financial advisor to Marfrig Global Foods S.A.