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’ holding company denies government interference in Delta deal

J&F Participações, which is the holding company that owns JBS, the world’s largest meat processor, last Friday (May 11) released a statement denying that the Brazilian government had interfered in the company’s negotiations to buy Delta Construções. “The BNDESPar stake in JBS does not make it a direct or indirect shareholder in any of the holding company’s businesses, nor does it give it the right to interfere in policy at J&F, says JBS.

J&F, however, claims that José Batista Junior, who has told the media that the deal had been approved by the federal government, despite being one of the shareholders in the holding company, has not been in an executive position in the group for seven years, which means he plays no part in J&F’s strategic planning. “His comments solely and exclusively reflect his personal opinion, which is totally at odds with the facts as they stand,” said the statement.

“The entire negotiation is being directly handled by Joesley Batista, the president of the holding company J&F, and the Delta shareholders. J&F sees the questions related to the sale of Delta as completely natural, and is available to the authorities to provide any explanations required,” adds the statement.

Information provided by Valor Economico

Advertisement

Topics

What to read next

Advertisement
UsernamePublicRestriction

Register

CO193416

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