Leucadia National Corp. is exploring a sale of part or all of its stake in its National Beef Packing Co. unit, one of the biggest U.S. meat-processing companies, people familiar with the matter said.
Leucadia owns a 79% stake in the Kansas City, Mo.-based beef giant, a 26-year-old supplier of steaks, hamburger and other beef products. A sale would see Leucadia exit a big bet on beef at a time when the industry is rebounding from a rough patch, thanks to rising consumer demand and cheap grain prices.
Leucadia purchased the National Beef stake in 2011 for $868 million and is working with advisers to explore options for that stake, people familiar with the matter said. It is unclear how much the business might fetch from a suitor.
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