JBS asset sale halted by judicial ruling - leatherbiz: Leading news si Leatherbiz

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JBS asset sale halted by judicial ruling

22/06/2017
A court in Brazil has ruled that JBS’s sale of beef plants in Argentina, Uruguay and Paraguay cannot go ahead.

On June 6, JBS’s South American division, which includes JBS Couros, confirmed the sale of beef operations in Argentina, Paraguay and Uruguay for around $300 million. It named Pul Argentina, Frigomerc and Pulsa as the buyers, all companies owned by rival Brazilian group Minerva.

On June 21, however, JBS announced that it had suspended the sale following a judicial ruling. The group said it intends to appeal the decision.


Related stories:

JBS concludes beef plants sale to Minerva 01/08/2017
Alpargatas deal off after price dispute 11/07/2017
JBS sees appeal over asset sales rejected 05/07/2017
US suspends Brazilian beef imports 27/06/2017

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