United States: Hicks Muse Buys Meat Processing Operation
Last Updated: November 7 2002

Issued on September 26, 2002

(Houston, TX) September 26, 2002 - Hicks, Muse, Tate & Furst Incorporated, a Dallas-based investment corporation, has purchased a majority share of the fresh beef and pork processing and cattle feeding businesses of ConAgra Foods Inc. in a transaction valued at approximately $1.4 billion.

Under the deal, which was completed Sept. 19, Hicks Muse, along with Booth Creek Management Corp., acquired 54 percent of the operation. Booth Creek, which is based in Vail, Colo., will own 17 percent of Hicks Muse's share. Omaha, Neb.-based Con Agra retains a 46 percent ownership in the business. The acquired operations will be called Swift & Co., and it will be one of the largest beef and pork processors with facilities in the United States and Australia.

Hicks, Muse was represented by the following lawyers from Vinson & Elkins' Dallas office: Michael Wortley, Winston Oxley, Mark Early, Christine Hathaway and Nancy Westphal.

ConAgra was represented by Roger Wells, Patrick Straka and Jeffrey Penne of McGrath, North, Mullin & Kratz in Omaha. Booth Creek was represented by Bruce Toth and Erik Lundgren of Winston & Strawn in Chicago.

Vinson & Elkins

Vinson & Elkins was established in 1917 and is one of the largest international law firms. The firm has more than 840 lawyers practicing in Austin, Beijing, Dallas, Houston, London, Moscow, New York, Singapore, and Washington, D.C. The firm offers a wide range of legal services. Clients include public and private companies, financial institutions, municipalities, governments of sovereign nations, entrepreneurs, families, and individuals.

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