JBS to float its international business on New York Stock Exchange
06/12/2016
The group announced an initial public offering (IPO) for this part of the business, JBS Foods International (JBSFI), on December 5. The group’s leather division, JBS Couros, is not part of the flotation. What is included is all of the interational business of JBS, plus that of Seara, the rival packer firm it acquired in 2013.
At the same time, JBS also announced that Gilberto Tomazoni, who has held a series of senior executive positions at JBS for the past four years, will take over as chief executive of JBSFI. Russ Colaco will be its chief financial officer. Group chief executive, Wesley Mendonça Batista, will be non-executive chairman of JBSFI.
The company said it expects to complete the IPO during the first half of 2017.
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