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Brazil's Minerva agrees to acquire Australian Lamb Company for about $260 mln

SAO PAULO, Oct 20 (Reuters) - Brazilian meatpacker Minerva Foods SA has agreed to acquire Australian Lamb Company for around $260 million, a report by local newspaper Valor Economico said on Thursday, citing sources familiar with the matter.

The beef-packer will make the purchase through a joint venture with Saudi fund Salic, which is also Minerva's largest shareholder, said the report.

Minerva did not have an immediate comment. ($1 = 5.2131 reais) (Reporting by Peter Frontini Editing by Chris Reese)

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