SATS inks $24.5m JV with Brazilian firm to scale up food distribution business
SATS BRF Food will be established.
SATS has set up a joint venture company with Brazilian food company BRF to increase the scale of its food business.
The company, which will be named SATS BRF Food, will have an initial capital of $48m in the form of 48m ordinary shares worth $1 each. SATS will hold $24.48m worth of shares while BRF will hold the remaining $23.52m.