IEG Vu is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

JBS makes bid for Independêndcia

After buying or leasing seven slaughterhouses since the beginning of the year and expanding cattle slaughter capacity in Brazil by more than 10%, JBS has submitted a formal proposal to buy Independêndcia’s assets, a company that has been in bankruptcy protection since 2009.

JBS has declined to comment. Valor newspaper could not contact a representative of Independêndcia, but has discovered that the offer is around R$ 270 million. It is unclear whether or not JBS would assume Independêndcia’s debts, which even after 50% discount accepted by its creditors are still around R$ 1 billion.

These creditors will evaluate the proposal at a meeting to be held on April 30. To close the deal, approval is needed by Brazil’s state-owned development bank, BNDES.

Information provided by Valor Economico

Advertisement

Topics

What to read next

Advertisement
UsernamePublicRestriction

Register

CO193359

Ask The Analyst

Please fill in the form below to send over your enquiry or check the Ask The Analyst Page to find out more about the service

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel