GFM Network News


JBS still keen on U.S. IPO despite scandals

Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s largest meatpacking firm, remains intent on a stock market listing of subsidiary JBS Foods International in the U.S. despite corruption and food safety scandals, executives said on Thursday. In April all of JBS operations will meet U.S. auditing and compliance requirements under the Sarbanes-Oxley Act, JBS […] Read more

Brazil pushes back decision on Bayer-Monsanto tie-up

Reading Time: 1 minute Sao Paulo | Reuters — Brazilian antitrust agency Cade on Wednesday extended its deadline to review Bayer’s proposed takeover of Monsanto by 90 days to late March, potentially spoiling plans to wrap up the US$66 billion tie-up by the end of the year. A spokesman said Cade had approved the extension at a session on […] Read more


JBS still seeks U.S. unit IPO

Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA will proceed with plans to list a U.S.-based unit when market conditions allow, as the world’s No. 1 meatpacker wrestles with a shareholder revolt over the role of the controlling Batista family in a massive graft scandal. In a Tuesday conference call to discuss second-quarter results, CEO Wesley […] Read more

Brazil federal police raid JBS on insider trade probe

Reading Time: 2 minutes Sao Paulo | Reuters — Brazil’s federal police on Friday raided the offices of JBS SA to investigate the alleged use of insider information in financial market dealings, pushing shares in the embattled meatpacker to a two-week low. Police said there were indications that JBS and controlling shareholder FB Participacoes SA gained an unfair advantage […] Read more


JBS sells LatAm units to Minerva

Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA has agreed to sell plants in Argentina, Paraguay and Uruguay to rival Minerva SA for US$300 million, as the world’s largest meatpacker seeks cash to weather a corruption scandal that caused a spike in funding costs. JBS will use proceeds from the transaction to cut debt, according to […] Read more

JBS scandal might reduce Brazil meat supplies, industry group says

Reading Time: 2 minutes Sao Paulo/Cuiaba | Reuters — An unfolding corruption scandal involving meatpacker JBS SA may reduce meat supply in Brazil, potentially benefiting rivals of the world’s largest beef exporter, industry group Abrafrigo said. Since the scandal broke, JBS and ranchers have been at odds, with the company deciding to stop buying cattle for cash and producers […] Read more