Sao Paulo | Reuters — Brazil’s federal accounts court, the TCU, said it had identified irregularities on loans to JBS SA, the world’s largest beef producer, and is deepening an investigation into the company’s relationship with state-run lender BNDES. The TCU is probing loans used to purchase U.S.-companies Swift and Co, for about US$225 million […] Read more
Tag Archives jbs — page 18
Brazil court probing state-backed loans to JBS
Brazil’s JBS concludes acquisition of Cargill pork unit
Sao Paulo / Reuters – Brazilian meatpacker JBS SA said on Friday it had concluded its $1.45 billion acquisition of Cargill Inc’s U.S. pork assets without any restrictions from regulators, a deal that makes it one of the largest meat companies in the United States. UPDATE: Cargill Illinois hog processing plant offline until Monday Chicago / […] Read more
Brazil’s JBS considering slew of acquisitions
Sao Paulo | Reuters –– JBS SA, the world’s largest meat packer, is ready to take on a slew of acquisitions next year, chairman Joesley Batista said Tuesday. The Brazilian company controls assets in the U.S., Canada, Australia and other countries. Batista, speaking on the sidelines of a telecommunications industry event in São Paulo, declined […] Read more
JBS to expand in processed foods, eyes Europe
Sao Paulo | Reuters –– Brazil’s JBS, the world’s largest beef exporter, is looking to enlarge its processed foods operations and expand in Europe, CEO Wesley Batista said in an interview with Valor Economico published Friday. The company, which in recent months has made billion-dollar acquisitions in the U.K. and U.S., is also looking to […] Read more
JBS doesn’t see Brazil beef exports to U.S. before 2016
Sao Paulo | Reuters — Meatpacker JBS expects fresh beef exports from Brazil to the U.S. to begin no earlier than 2016, later than the Brazilian government predicted, CEO Wesley Batista said Friday. An agreement between the two countries was signed in June, when Brazilian President Dilma Rousseff visited Washington, but Batista said it would […] Read more
U.S. livestock: Hogs near three-week high on export optimism
Chicago | Reuters –– U.S. lean hog futures rose as much as two per cent on Thursday, lifted by large weekly pork export sales and hopes a deal between JBS USA and Cargill could lead to more international shipments, traders and analysts said. Volume was light in an abbreviated session ahead of the U.S. July […] Read more
JBS to buy Cargill’s U.S. pork assets for US$1.45B
Reuters — JBS SA, the world’s largest meat packer, is buying Cargill’s U.S. pork business for US$1.45 billion, free of debt, it said in a statement on Wednesday, a deal that would make it one of the largest and most powerful meat companies in the U.S. The bid by the company’s JBS USA subsidiary comes […] Read more
Meatpacker JBS closes plant, lays off 650 workers in Brazil
Sao Paulo | Reuters — The world’s largest meatpacker JBS SA laid off 650 workers and closed a plant in Brazil’s Mato Grosso state due to the lack of cattle ready for slaughter, a state labour official and the company said on Wednesday. JBS CEO Wesley Batista said last week that the first three months […] Read more
JBS CEO says Brazil close to exporting fresh beef to U.S.
Sao Paulo | Reuters — Brazil is “closer than it had ever been” to exporting fresh beef to the U.S., the CEO of Brazilian meat packer JBS SA said Thursday, adding he expects shipments to start later this year. The Brazilian agriculture ministry expects a formal announcement on meat exports to the U.S. when President […] Read more
JBS has cash for takeover, but focused on growth, CEO says
Sao Paulo | Reuters — Brazilian meat packer JBS will have sufficient cash flow in 2015 to bankroll potential acquisitions, but for the time being plans to focus on consolidating gains from recent takeovers, CEO Wesley Batista said on Tuesday. The company in late March completed the US$1.125 billion buyout of Australian meats company Grupo […] Read more
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