Brazilian meatpacker JBS SA revealed a $1.8 billion divestment plan on Tuesday, putting dairy, poultry and cattle feeding assets on the block to cut debt after a corruption scandal raised concerns about its financing costs. JBS, whose controlling shareholder recently agreed to pay a massive leniency fine after becoming embroiled in sweeping graft probes that have ensnared politicians and executives, said in a securities filing that its board and state development bank BNDES still had to approve the planned asset sales. The plan, which aims to raise 6 billion reais ($1.8 billion), includes a 19.2 percent stake in Brazil-based dairy company Vigor Alimentos SA, along with its Northern Ireland unit Moy Park and Five Rivers Cattle Feeding in North America, according to Reuters. Read more…
Recent Posts
Pontotoc County man arrested for stealing cattle from Oklahoma sale barn
Jason Don Price charged with 44 Counts of larceny of livestock following cattle theft from Southern …
Continue Reading about Pontotoc County man arrested for stealing cattle from Oklahoma sale barn
TSCRA Talk Episode 50 – Preserving the history of ranching
Frank McLelland, vice president of the executive committee at the National Ranching Heritage …
Continue Reading about TSCRA Talk Episode 50 – Preserving the history of ranching
Crime Watch: Bull missing in Yoakum
Texas & Southwestern Cattle Raisers Association Special Ranger Robert Fields, District 25 in …