JBS abandons plans for “ultimate parent company” in Ireland
26/10/2016
In an announcement on October 26, JBS said that one of its major shareholders, the Brazilian government’s BNDES Participações investment bank, is opposed to the reorganisation and that the plan will not go ahead.
In a call with analysts after announcing the cancellation JBS chief executive, Wesley Batista, said the company is optimistic about its future. “In the US the beef segment is getting better and will deliver well for us in the coming years,” he said. “And in Brazil, the worst is behind us in terms of how the economy is performing.”
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