BNDES would lose R$ 2.6 billion if it got out of slaughterhouses
BNDESPar, the equity arm of Brazil's state-owned development bank, BNDES, would lose almost R$ 2.6 billion in Brazil's largest slaughterhouses – if it decided to sell its stake in JBS, Marfrig and BRF-Brasil Foods, at current market prices.
According to Valor Data, these shares were worth R$ 6.92 billion on June 19. That is 27% down on the bank's investment, estimated at R$ 9.5 billion. It does not include the R$ 250 million invested in 2008 to buy 21.8% stake in Independência, which was wiped out after the company suspended its activities and entered bankruptcy protection in 2009.
Information provided by Valor Econômico