Tyson Foods, Inc. entered into a definitive agreement to acquire Thai and European operations from BRF S.A. for $340 million.

Tyson Foods, Inc. (NYSE:TSN) entered into a definitive agreement to acquire Thai and European operations from BRF S.A. (BOVESPA:BRFS3) for $340 million on February 6, 2019. Tyson Foods acquired $56 million of cash of Thai and European operations. The operations include four processing facilities in Thailand, one processing facility in the Netherlands and one processing facility in the United Kingdom.

Pursuant to the acquisition, the experienced and talented team will join to the Tyson Foods family. To finance the acquisition, Tyson Foods, Inc. issued total $2.8 billion senior notes of which $800 million notes due 2026 for a coupon yield of 4%, $1 billion notes due 2029 for a coupon yield of 4.35% and $1 billion notes due 2048 for a coupon yield of 5.1%. The deal is subject to customary closing conditions, including regulatory approvals.

Tyson Foods Inc file for European Commission on April 11, 2019. Deadline for European Commission approval is May 23, 2019. On May 20, 2019, the transaction is approved by European Commission.

Transaction is expected to close before the end of the Tyson Foods's fiscal third quarter. BofA Merrill Lynch is acting as financial adviser and Riaz Pirmohamed, Mark Poulton, Dana Usher, and Claire Zhu of Clifford Chance LLP is acting as a legal counsel to Tyson Foods on the acquisition. Alasdair Balfour, Eleanor Bath, Kalila Bolton, Charlie Bowden, Chloe Bowskill, Richard Browne, Chris Burkett, Prabhjot Dhami, Molly Flood, Fee Goosens, Tim Harrop, Jeff Hermans, Laura Hiscox, Christa Hotton, Ed Jackson, Tanya Macrae, Paul McCarthy, Harshit Neotia, Nick Saner, Alex Tilley, Sarah Wallace, Stephanie Yiolitou, Matt Townsend, Iyes Iyesogie, Ben Sanderson, Nopparuj Sallakanonta, Arthit Hemara, Suparerk Auychai, Neeramas Jirungwong, Somporn Manodamrongtham, Thanaporn Sajjavanij, Sophie Roosendaal, Gijs Linse, Sabrina Rijn Van, Suzanna Sikkink, Sophie Kremer, Elke Hart ter, Paolo Ghiglione, Marco Biallo, Paul Worms, Thibault Debrai-Malot, Francisco Martinez, Regina de Mozo Rosales, Jonas Wittgens, Louisa Graubner and Moritz Merkenich of Allen & Overy acted as legal advisor to BRF S.A. Morgan Stanley acted as financial advisor to BRF S.A.