Groupe Smithfield is a joint venture with Oaktree Capital Management LLC.
If the merger takes place,
The company said that Groupe Smithfield and Campofrio have entered into a non-binding memorandum of understanding which has established the preliminary terms and conditions for a potential merger. The merger is dependent on negotiations and approval from shareholders and regulatory agencies. The merger must also receive takeover bid exemption from the Spanish securities regulator CNMV.
Source: Smithfield Foods Inc.