BRF SA, a Brazilian food company, has inked to divest about 800 million reais ($206 million) in assets as part of its plan to secure $1.2 billion to cut down debt.
The amount consists the divestment of its Argentina subsidiary, Quickfood SA, to Brazilian peer Marfrig Global Foods SA for $59.6 million, as well as its facility and equipment in Varzea Grande, in central Brazil, for $25.5 million.
Under the terms of the transaction, Marfrig will supply BRF with hamburgers and other products for 60 months.
In June, BRF disclosed a restructuring program that includes the divestment of operations in Europe, Argentina and Thailand to reduce debt.