JBS-Friboi and Bertin deny deal
20/01/2009
Reports in the Brazilian media that packer group JBS-Friboi has approached the BNDES bank to secure funding to buy out rival meat and tanning group Bertin have been denied by both companies.
JBS’s press spokesperson insisted that it was not in the habit of carrying out its business in secret and that, as soon as it had news, it announced it to the market. At the same time, company president, Joesley Batista, has already said that 2009 will be a year of consolidation and caution for JBS. Nevertheless, he also acknowledged that there are good acquisition opportunities in South America in the current economic climate.
In an internal communiqué, Bertin also said the reports of its imminent sale were inaccurate, and were down to the success it has achieved in the areas in which it operates.
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