Sadia Sells Stake In Venture

Leading Brazilian meat processor Sadia has sold its 60% stake in its Russian joint venture Investeast to its partner Fomanto for US$77.5mn. Despite offloading its stake in what appears a strategic move, the meat company's commitment to Russia has not flinched and it is expected to increase exports. BMI rates Russia's meat processing market as among the world's most promising. Through to 2013, we have forecast consumption of pork and poultry to increase by 10.5% and 20.3% and reach 3mn and 3.2mn tonnes respectively, which bodes well for Sadia as it is believed to account for around 50% of pork

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