SÃO PAULO — Marfrig Global Foods S.A. is now the majority shareholder of BRF S.A. after it increased its equity interest in the company.

According to the securities filing dated Dec. 28 from BRF, Marfrig holds 842,165,702 common shares and American Depositary Receipts (ADRs), representing 50.06% of the total issued and outstanding capital of BRF.

Marfrig said it does not look to change the current shareholding composition nor the administrative structure of BRF with this acquisition. Marfrig has not executed any contracts to regulate the exercise of voting rights or the purchase and sale of BRF’s securities.

Before reaching majority ownership, Marfrig consistently added to its stake in BRF.

In May 2021, Marfrig purchased a 24.23% stake in BRF. By September 2023, the company bumped its stake up to 40.05% with 673,879,961 total common shares.

The two Brazil-based processors showed signs of a possible merger in 2019 that never materialized.