JBS parent company pulls out of Delta
J&F, JBS’ parent company, announced on Friday (June 1) that it has canceled the memorandum of understanding providing for the management of the controller of construction company, Delta, and the option to purchase a controlling interest in the Delta Group.
The prolonged crisis of confidence in Delta has deteriorated the economic and financial scenario for the construction company, generating negative cash flow and substantially altering the initial conditions.
As stated in the preliminary contract signed between J&F and Delta’s controller, unexpected or adverse events allow J&F to terminate the memorandum of understanding with no fines or penalties due.
Information provided by J&S