Billionaire Abilio Diniz Buys 3% Stake in BRF, Estado Reports

Brazilian billionaire Abilio dos Santos Diniz has bought about 1 billion reais ($489.9 million) in shares of poultry exporter BRF Brasil Foods (BRFS3) SA this month, O Estado de S.Paulo reported.

Diniz, who is the chairman of Brazil’s biggest retailer, Cia. Brasileira de Distribuicao Grupo Pao de Acucar, is in talks with other shareholders to be named head of BRF’s board, O Estado said, citing unidentified people familiar with the negotiations.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.

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