JBS starts to sell packer plants, tanneries not affe - leatherbiz: Lea Leatherbiz

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JBS starts to sell packer plants, tanneries not affected

07/06/2017
With a fine of $3.2 billion to pay the Brazilian authorities for its part in corruption scandals packer and tanning group JBS has announced an asset sale that will help it raise part of the money.

It said on June 6 that its South American division, which includes leather business unit JBS Couros, will sell beef operations in Argentina, Paraguay and Uruguay. None of its Brazilian packing plants are affected and neither are any JBS Couros hide processing facilities, including the tanneries it runs in Uruguay and Argentina.

It named Pul Argentina, Frigomerc and Pulsa respectively as the buyers of the JBS beef operations in each of the three neighbouring countries. It went on to describe these buyers as “entities controlled by [rival Brazilian group] Minerva”.

The total sale price is $300 million.


Related stories:

JBS sees appeal over asset sales rejected 05/07/2017
JBS to revamp compliance procedures 14/06/2017

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