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(JBSs.infoinvest.com.br)
Livestock

JBS to shed U.S. feedlot chain

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The remaining feedlots in meat packing giant JBS’s Five Rivers Cattle Feeding business, the world’s biggest cattle feeding operation, have found a buyer. JBS on Wednesday announced a deal to sell the U.S.-based assets of Five Rivers to affiliates of New York-based Pinnacle Asset Management for about US$200 million. The deal gives Pinnacle 11 feedlots […] Read more
(JBSs.infoinvest.com.br)
Livestock

Brazil police serving warrants linked to JBS tax probe

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Sao Paulo | Reuters — Brazil’s federal police are serving 14 search warrants on Monday in connection with a bribery probe implicating meatpacker JBS SA and tax authorities, they said in a statement. The raids are based on plea bargain testimony by JBS executives who suggested that 160 million reais (C$62 million) in bribes were […] Read more
(JBSsa.com)
Livestock

JBS says listing of U.S. unit remains priority

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Sao Paulo | Reuters — Brazilian meatpacker JBS SA said listing a subsidiary in the U.S. remained a priority, even as two controlling shareholders in the company remain in jail for insider trading and their role in a corruption scandal. The long-planned initial public offering of its processed food subsidiary JBS Foods International BV was […] Read more
(JBSs.infoinvest.com.br)
Livestock

Brazil court unfreezes JBS owners’ assets

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Brasilia | Reuters –– A Brazilian federal appeals court on Thursday granted an injunction releasing assets belonging to the Batista brothers, owners of the world’s largest meatpacker JBS SA, Ticiano Figueiredo, a lawyer representing the defendants, said. A spokeswoman at the appeals court did not immediately reply to a request for comment. On Oct. 6, […] Read more
(JBSS.infoinvest.com.br)
Livestock

JBS shuts seven plants in Brazil after asset freeze

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Sao Paulo | Reuters — Brazilian meatpacker JBS SA shut down seven slaughterhouses in Mato Grosso do Sul after a court-ordered asset freeze affected its operations in Brazil’s second largest cattle-producing state, a press representative said on Wednesday. The world’s largest meatpacking company said in an emailed statement that the plants would stay closed until […] Read more
(JBSs.infoinvest.com.br)
Livestock

JBS pulls plan for U.S. unit IPO

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Sao Paulo/Brasilia | Reuters –– JBS SA has pulled a planned US$500 million U.S. initial public offering of processed food subsidiary JBS Foods International BV, almost six months after a spree of corruption and food safety scandals in Brazil hurt investor demand for the deal. In a Friday filing with the U.S. Securities and Exchange […] Read more
(JBSsa.com)
Livestock

JBS owners ‘profited’ from inside information, Brazil police say

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Brasilia | Reuters — Brazil’s police investigation into insider trading by the owners of the world’s largest meatpacker JBS SA has found that they made a profit by taking financial positions before details of their plea bargain deal with prosecutors became public, the head of the probe said Tuesday. Police chief Edson Garutti, told Globo […] Read more
(JBSS.infoinvest.com.br)
Livestock

Brazil’s Supreme Court won’t release JBS brothers

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Sao Paulo | Reuters — Brazil Supreme Court Justice Gilmar Mendes on Friday denied a request to release from jail Joesley and Wesley Batista, the brothers who control the world’s largest meatpacker JBS SA. The Batistas’ defense challenged the detention of the brothers after their arrest last week by federal police in a probe into […] Read more
(JBSs.infoinvest.com.br)
Livestock

Brazil formally accuses JBS owners of insider trading

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Sao Paulo | Reuters — Brazil’s federal police on Thursday formally asked prosecutors to bring charges against brothers Wesley and Joesley Batista, the owners of meatpacker JBS SA, for insider trading. The Batista brothers saved as much as 138 million reais (C$54 million) through allegedly illegal market dealings in May, police said. The insider trading […] Read more

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