Brazil’s JBS Meatpacking to Sell Assets Worth R$6 Billion

The sale of operations in Brazil, the U.S. and Europe are expected to help JBS's controller pay a R$10.3 billion fine for participation in the Lava Jato graft corruption scandal.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The world’s largest meat processor, Brazilian company JBS, announced on Tuesday a divestment program that it hopes will render R$6 billion. In addition to selling its participation in one of the largest dairy product firms in Brazil it will also sell its participation in a food processing subsidiary in Northern Ireland and in a livestock confinement business in the United States.

The divestment program will reduce the company’s net debt and, consequently, its financial leverage, strengthening JBS’ financial structure,” said the statement issued by JBS to its . . .

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