Tyson has reportedly reached an agreement to sell $400 million worth of assets in Mexico to rival Pilgrim’s Pride as Tyson continues to face a federal merger review in the US over its recent takeover of Hillshire Farms.
Pilgrim’s, the US’s second-place poultry firm, announced Tuesday that it reached an agreement with its top rival that the company said will add about $650 million in new revenue for Pilgrim’s operations in Mexico.
Reports say that Tyson has also sold its operations in Brazil to JBS foods, a Brazilian conglomerate and parent company to Pilgrim’s.
Both divestitures are subject to regulatory approval but Tyson said it expects to close the deals by the end of this year.
The sales were made as Tyson continues to face a Department of Justice probe into its takeover of Hillshire Farms.
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