BNDES sells 50 million shares in JBS
Brazilian state-controlled bank BNDES has sold 50 million shares of meatpacking giant JBS SA, raising R$1.9 billion (US$367.3 million).
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PRINT & DIGITAL
JBS to sue controlling shareholders for stock plunge
The Brazilian meatpacker is to sue its own controlling shareholders for the acts of corruption undertaken by brothers Wesley and Joesley Batista, as per the leniency agreement signed with the Federal Police in 2017.
Read More...J&F extended asset freeze “unjustifiable”
A Brazilian federal judge ruled on October 6 that all assets of the Batista family and their respective companies be blocked. The decision is said to include 21 individuals and legal entities.
Read More...JBS Board rejects withdrawal of Chief Executive
JBS’ Board of Directors released a statement on August 28 stating that the requests from major shareholder BNDES, the Brazilian Development Bank, for the withdrawal of Wesley Batista, the company's Chief Executive, and the hiring an external audit to examine facts narrated in the Batista brothers' plea bargain allegations would be detrimental to the company.
Read More...JBS says IPO will go ahead
The owners of the Brazilian meatpacking giant remain confident that they can revive the international listing, which was initially planned to be launched in the first half of 2017.
Read More...JBS to hold extraordinary shareholder meeting
Set for September 1, 2017, at the São Paulo company headquarters, in Brazil, the extraordinary shareholder meeting is to examine the potential losses caused to the company and the possible removal of the Batista family from JBS’ management, among other issues.
Read More...JBS could reimburse Brazilian treasury for losses
Brazil's federal accountability office (TCU) decided on June 6 to consider as evidence the terms of a plea deal by JBS SA owner and shareholder Joesley Batista in the assessment of the damages caused by JBS’s acquisition of meatpacking company Swift in 2007.
Read More...Deadline for changes on JBS Board extended
BNDES, the Brazilian Development Bank which holds a 21% share in the meatpacking giant, has given JBS until July 10 to exclude the Batista family from its controlling board and management.
Read More...Small and medium abattoirs dispute JBS market gap
Various meat processing companies in Brazil are trying to fill the market gap left behind by JBS but, although meatpackers such as Minerva and Marfrig have plans to reactivate some of their dormant units, analysts say this will not suffice to cater for demand.
Read More...JBS shares soar at announcement of restructuring
Shares of the world’s largest meat processor increased 12.8% in Brazil at the announcement of its restructuring strategy, which has been approved by BNDS, the Group’s biggest shareholder.
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