Saudi Investor Sells BRF Shares Ahead of $2.6 Billion Merger with Marfrig

A Saudi Arabian investor has sold an 11% stake in BRF SA through an agreement with Citigroup. The move helps remove a hurdle for the company's $2.6 billion merger with Marfrig Global Foods SA. The Saudi investor still holds an economic interest in BRF through derivatives, addressing concerns from Brazil's antitrust regulator. The deal eliminates potential questions about conflicts of interest and saves the company tax payments.