JBS Friboi and Bertin to merge
17/09/2009
Brazil’s JBS, the world’s largest packer firm, has announced that it intends to take over rival firm Bertin.
Financial media have explained the proposed deal by saying that the controlling shareholders of JBS intend to set up a new holding company to control both packers. Estimates in Brazil are that Bertin’s current owners would have a 40% equity share in the new company, while 60% would belong to those who control JBS.
JBS said in a statement that it wanted to go through all the necessary legal processes before confirming the make-up of the proposed new company.
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