Brazil meatpacker Minerva mulling change of domicile

Brazil meatpacker Minerva mulling change of domicile

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Brazil meatpacker Minerva approved a study to change its domicile in order to start trading outside Brazil, the company said in a securities filing on Thursday, without disclosing any locations.

Minerva has not responded to a request for comment.

Several Brazilian companies are looking to relocate to the United States and list on a U.S. exchange, fueled by a desire for broader access to investors, lower corporate taxes, looser regulations for controlling shareholders, and more efficient capital markets.

The success of Brazilian tech startups with U.S. listings, such as digital lender Nubank, has spurred interest from other sectors, ranging from retail to cosmetics, in moving their legal domiciles mainly to the United States as well as Britain, Ireland and the Netherlands.

Last year, Brazil’s JBS SA, the world’s largest meat processor, said it would also pursue next year a U.S. listing of its international operations. (Reporting by Carolina Pulice Editing by Chris Reese and Richard Chang)


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