U.S. officials question JBS owners

Brazil
Published:  10 December, 2018

Officials from the U.S. Department of Justice have reportedly questioned the major shareholders of J&F Investimentos, owner of meatpacking giant JBS, during a recent visit to Brazil.

Both Batista brothers, who are not allowed to leave the country, are reported to have met with the U.S. officials. Allegedly, the U.S. authorities have been investigating the companies controlled by J&F since the corruption scandal broke out in the first half of 2017; an agreement signed with the Brazilian authorities allows them to question the shareholders in Brazil. It is not clear which part of the business is under investigation by the U.S. authorities.

J&F’s operations in the U.S. includes JBS and chicken producer Pilgrim’s Pride. The Group had also planned to launch an initial public offering (IPO) in the U.S. this year.

Earlier in December, JBS appointed Guilherme Cavalcanti as the Company’s Global Chief Financial Officer (CFO) and Head of Investor Relations, effective from January 15, 2019. Read more here.

Source: Reuters