JBS sees appeal over asset sales rejected - leatherbiz: Leading news s Leatherbiz

News

JBS sees appeal over asset sales rejected

05/07/2017
A Brazilian supreme court justice has rejected an appeal from packing and tanner group JBS over the blocking of the sale of some of its assets, Reuters reports.

On June 20, JBS announced the sale of its beef operations in Argentina, Paraguay and Uruguay for $300 million to rival Brazilian group Minerva. On June 21, a court in Brazil ruled that these sales could not go ahead and JBS said it had suspended the sale.

Justice Edson Fachin has upheld the lower court’s ruling that the deal could harm the investigation into the corruption scandal that has engulfed JBS. 

JBS has said it now intends to take its appeal to the full supreme court. 

Related stories:

Asset freeze forces JBS slaughterhouse closures 20/10/2017
JBS owners charged with insider market trading 12/10/2017
JBS concludes beef plants sale to Minerva 01/08/2017
J&F to sell Alpargatas for $1.1 billion 14/07/2017
Alpargatas deal off after price dispute 11/07/2017
New compliance programme says JBS will ‘always do the right thing’ 29/06/2017
Brazil’s president formally charged over JBS scandal 27/06/2017
JBS asset sale halted by judicial ruling 22/06/2017
JBS announces the sale of further assets 20/06/2017
Timeline of turbulent month for JBS 15/06/2017
JBS to revamp compliance procedures 14/06/2017
US livestock farmers call for investigation into JBS 12/06/2017
JBS starts to sell packer plants, tanneries not affected 07/06/2017
Social projects will benefit from JBS parent group fine 06/06/2017
JBS parent company agrees $3 billion fine with Brazilian authorities 31/05/2017

Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.