By Brazil Stock Guide – JP Morgan Chase & Co. and Citigroup Inc. have increased their equity positions in Marfrig Global Foods S.A. (MBRF3), reinforcing their presence in the Brazilian meatpacker while maintaining a non-controlling stance.
Filings show that JP Morgan raised its direct and derivative-linked holdings to 77,109,848 common shares and 279,170 call options, representing about 5.52% of Marfrig’s voting capital. The bank said the move is tied to investment strategies and hedging activities linked to client transactions, without any intention to influence corporate control or governance.
Citigroup, through its Brazilian unit Banco Citibank S.A., reported a significantly larger position, reaching 211,096,900 common shares, or roughly 15.06% of Marfrig’s outstanding stock. The stake includes 205,096,414 shares held directly, 486 American Depositary Receipts (MBRFY), and 6 million physically settled derivatives referencing Marfrig shares.
The bank said the increased exposure reflects ongoing financial operations and risk management tied to client activities. Citigroup also stated it does not aim to alter the company’s control structure or management and is not acting in concert with other shareholders.
Both institutions emphasized that their positions are not governed by agreements related to voting rights or coordinated trading strategies involving Marfrig securities.