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(JBSs.infoinvest.com.br)
Beef cattle, Livestock

Brazil court unfreezes JBS owners’ assets

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Brasilia | Reuters –– A Brazilian federal appeals court on Thursday granted an injunction releasing assets belonging to the Batista brothers, owners of the world’s largest meatpacker JBS SA, Ticiano Figueiredo, a lawyer representing the defendants, said. A spokeswoman at the appeals court did not immediately reply to a request for comment. On Oct. 6,
(JBSS.infoinvest.com.br)
Beef cattle, Livestock

JBS shuts seven plants in Brazil after asset freeze

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Sao Paulo | Reuters — Brazilian meatpacker JBS SA shut down seven slaughterhouses in Mato Grosso do Sul after a court-ordered asset freeze affected its operations in Brazil’s second largest cattle-producing state, a press representative said on Wednesday. The world’s largest meatpacking company said in an emailed statement that the plants would stay closed until
(JBSs.infoinvest.com.br)
Beef cattle, Livestock

JBS pulls plan for U.S. unit IPO

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Sao Paulo/Brasilia | Reuters –– JBS SA has pulled a planned US$500 million U.S. initial public offering of processed food subsidiary JBS Foods International BV, almost six months after a spree of corruption and food safety scandals in Brazil hurt investor demand for the deal. In a Friday filing with the U.S. Securities and Exchange
(JBSS.infoinvest.com.br)
Livestock

Brazil’s Supreme Court won’t release JBS brothers

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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
(JBSs.infoinvest.com.br)
Livestock

Brazil formally accuses JBS owners of insider trading

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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
(JBSS.infoinvest.com.br)
Livestock

Brazilian state bank lambastes JBS CEO switch

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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
(JBSs.infoinvest.com.br)
Livestock

Brazil police detain JBS CEO

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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
(JBSS.infoinvest.com.br)
Beef cattle, Livestock

JBS still seeks U.S. unit IPO

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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
(JBSs.infoinvest.com.br)
Beef cattle, Livestock

JBS misses estimates as financial expenses soar

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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

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