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Tag Archives Pilgrims Pride

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

Abu Dhabi fund not eyeing bid for JBS, source says

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Abu Dhabi/Sao Paulo | Reuters — Shares of JBS SA erased gains on Friday after a source denied that Abu Dhabi sovereign wealth fund Mubadala Development Co. PJSC was arranging partners to make a bid for control of the world’s largest meatpacker. A person with direct knowledge of Mubadala’s strategy told Reuters that, despite a
(JBSsa.com)
Livestock

JBS says Pilgrim’s Pride stake not for sale

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Chicago | Reuters — Brazilian meat packer JBS SA’s core U.S. assets, including its majority stake in Pilgrim’s Pride Corp., are not for sale, the company said on Wednesday, a day after announcing a deal to sell Argentine operations. U.S. chicken company Pilgrim’s Pride is critical to JBS’ long-term strategy of pursuing business opportunities that
(JBSsa.com)
Livestock

JBS brothers test dealmaking skills in Brazil plea deal showdown

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Sao Paulo/Washington | Reuters — The brothers whose deft dealmaking helped build JBS SA into the world’s No. 1 meat processor are testing that talent like never before as they seek a leniency deal with prosecutors after admitting to paying millions of dollars in bribes to Brazilian politicians. JBS and its controlling shareholder J+F Investimentos,
(Stephen Ausmus photo courtesy ARS/USDA)
Livestock

Tyson reveals subpoena linked to alleged price fixing

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Reuters — Tyson Foods disclosed on Monday it has received a subpoena from the U.S. Securities and Exchange Commission following allegations it conspired with rivals for years to fix chicken prices. The chicken sector, which is dominated by a handful of large meat companies, has come under increased scrutiny over the past year as customers
(Dave Bedard photo)
Livestock

Costco plans chicken plant in Nebraska

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Reuters — Costco Wholesale Corp. is considering building a poultry-processing plant in Nebraska, according to a local development council, a move that would give the retailer tighter control over its chicken supplies. The facility, if built in Nebraska’s Dodge County, would create 1,100 jobs, work with local chicken farmers and invest $180 million in the
(JBSsa.com)

Brazil court probing state-backed loans to JBS

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Sao Paulo | Reuters — Brazil’s federal accounts court, the TCU, said it had identified irregularities on loans to JBS SA, the world’s largest beef producer, and is deepening an investigation into the company’s relationship with state-run lender BNDES. The TCU is probing loans used to purchase U.S.-companies Swift and Co, for about US$225 million
Livestock

Russia-U. S. Meat Fight Heats Up Ahead Of Talks

As U. S. officials head to Moscow to try to assuage Russian concerns about meat safety, the political tension over the issue has been dialed up, raising fears the talks won’t bring quick relief. U. S. chicken and pork have been effectively shut out of Russia, the No. 1 export market for poultry and in
News, Poultry

Pilgrim’s Pride Eyes 2009 Bankruptcy Exit

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U. S. chicken producer Pilgrim’s Pride Corp. has idled plants and is streamlining operations in hopes of exiting from bankruptcy protection by the end of 2009, CEO Don Jackson told Reuters on Feb. 27. The company filed for bankruptcy protection in December after struggling for nearly a year with high feed costs and low meat
News, Poultry

A Pilgrim’s Pride bankruptcy may help rivals

Any bankruptcy filing by Pilgrim’s Pride Corp., the largest U. S. chicken producer, could support higher pricing for the entire poultry industry as capacity is taken out, Fitch Rating said Nov. 18. A Pilgrim’s Pride bankruptcy looks “pretty inevitable,” given that the company has hired a restructuring adviser and is exercising a grace period for

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