Brazilian pension fund Previ said on Monday it sold its minority stake in Brazilian meat processor BRF for 1.9 billion reais ($340.31 million), ending a 31-year investment in the group, according to a statement on its website.
Previ, which represents workers from state-run lender Banco do Brasil, said the move aims to avoid potential negative impacts from the ongoing merger between BRF and Marfrig. The pension fund added it will use the resources to buy long-term local bonds from the Brazilian government.
