JBS concludes beef plants sale to Minerva - leatherbiz: Leading news s Leatherbiz

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JBS concludes beef plants sale to Minerva

01/08/2017
Brazilian meatpacker JBS, the world’s biggest tannery owner, has concluded the sale of its beef operations in Argentina, Paraguay and Uruguay.

Rival Minerva has purchased the assets under its Pul Argentina, Frigomerc and Pulsa companies for a total of $300 million.

A judicial ruling on June 21 prevented the sale from going ahead, but this was overturned after JBS appealed the decision.

The Brazilian giant has begun to sell assets to pay fines related to an ongoing investigation into corruption.


Related stories:

Operations resume at JBS slaughterhouses 24/10/2017
Asset freeze forces JBS slaughterhouse closures 20/10/2017
JBS owners charged with insider market trading 12/10/2017
JBS calls extraordinary general meeting 28/07/2017
JBS sale of packer plants to go ahead 17/07/2017
J&F to sell Alpargatas for $1.1 billion 14/07/2017
Alpargatas deal off after price dispute 11/07/2017
JBS sees appeal over asset sales rejected 05/07/2017
New compliance programme says JBS will ‘always do the right thing’ 29/06/2017
Alpargatas on verge of second sale in 18 months 28/06/2017
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

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