Smithfield Foods Inc., a wholly owned subsidiary of WH Group Limited, announced the sale of its entire equity interest in Campofrio to Alfa for $354 million in cash. The sale represents approximately 37% of the entire issued share capital of Campofrio.
"This transaction reflects Smithfield's commitment to continually review our portfolio and generate cash to support our long term priorities. It is aligned with our strategic initiative to strengthen our balance sheet and reduce our financing costs," said C. Larry Pope, Smithfield's president and chief executive officer.