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(JBSsa.com)
Beef Cattle, Livestock, Reuters

JBS owners ‘profited’ from inside information, Brazil police say

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Reading Time: < 1 minute Brasilia | Reuters — Brazil’s police investigation into insider trading by the owners of the world’s largest meatpacker JBS SA has found that they made a profit by taking financial positions before details of their plea bargain deal with prosecutors became public, the head of the probe said Tuesday. Police chief Edson Garutti, told Globo […] Read more
(JBSS.infoinvest.com.br)
Livestock, Reuters

Brazil’s Supreme Court won’t release JBS brothers

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Reading Time: < 1 minute Sao Paulo | Reuters — Brazil Supreme Court Justice Gilmar Mendes on Friday denied a request to release from jail Joesley and Wesley Batista, the brothers who control the world’s largest meatpacker JBS SA. The Batistas’ defense challenged the detention of the brothers after their arrest last week by federal police in a probe into […] Read more
(JBSs.infoinvest.com.br)
Livestock, Reuters

Brazil formally accuses JBS owners of insider trading

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Reading Time: < 1 minute Sao Paulo | Reuters — Brazil’s federal police on Thursday formally asked prosecutors to bring charges against brothers Wesley and Joesley Batista, the owners of meatpacker JBS SA, for insider trading. The Batista brothers saved as much as 138 million reais (C$54 million) through allegedly illegal market dealings in May, police said. The insider trading […] Read more
(JBSS.infoinvest.com.br)
Livestock, Reuters

Brazilian state bank lambastes JBS CEO switch

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Reading Time: 3 minutes Rio de Janeiro/Sao Paulo | Reuters — JBS SA’s weekend move to replace the Brazilian company’s jailed chief executive with his father showed “deviousness” and left in place a situation of “terrible governance” at the world’s No. 1 meatpacker, the head of state development bank BNDES said on Monday, In remarks to Reuters, BNDES president […] Read more
(JBSs.infoinvest.com.br)
Livestock, Reuters

Brazil police detain JBS CEO

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Reading Time: 3 minutes Sao Paulo | Reuters — Brazil’s federal police on Wednesday detained the chief executive of JBS SA, the world’s No. 1 meatpacker, saying he used insider information to avoid hefty losses related to a plea bargain he signed earlier this year. Wesley Batista, who has been at the helm of JBS since 2011, was detained […] Read more
(JBSS.infoinvest.com.br)
Beef Cattle, Livestock, Poultry/Eggs, Reuters

JBS still seeks U.S. unit IPO

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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
(JBSs.infoinvest.com.br)
Beef Cattle, Livestock, Poultry/Eggs, Reuters

JBS misses estimates as financial expenses soar

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Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA, the world’s largest meatpacker, on Monday reported second-quarter income that missed estimates as a spike in net financial expenses and its struggling South American operations weighed on results. JBS reported quarterly net income of 309.8 million reais (C$123.6 million), below a consensus estimate of 603 million reais and […] Read more
(JBSs.infoinvest.com.br)
Reuters

JBS taps BNP Paribas for Moy Park sale

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Reading Time: 2 minutes Sao Paulo / Reuters – JBS SA, the world’s No. 2 food processor, has picked BNP Paribas SA to help sell Moy Park Ltd, which the company has put on the block, a person with direct knowledge of the matter said on Monday. JBS, whose controlling family has been ensnared in a corruption scandal, announced […] Read more
(JBSs.infoinvest.com.br)
Beef Cattle, Livestock, Reuters

JBS gets nod from Brazil court to divest assets

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Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA has received permission from a Brazilian appeals court to sell assets as the world’s largest meatpacker copes with fallout from a corruption scandal involving the family that controls it. In a statement on Thursday, JBS said it had learned that Brazil’s Regional Federal Court of the 1st Region […] Read more

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