JBS closing in on acquiring slaughterhouse Independência
JBS has taken another step in its drawn-out negotiations to buy slaughterhouse Independência, which is undergoing judicial reorganization. The company has reached an agreement with all Independência's bondholders. This endorsement was one of the last outstanding issues for the operation to go through.
In a meeting held in May, Independência's creditors involved in its judicial reorganization authorized the sale of the company. JBS offered R$ 268 million for the slaughterhouse's assets.
The outcome now depends on the signing of contracts with the holders of these bonds and the conclusion of the lawsuit filed by creditors who rejected the proposal made by JBS, which was approved by 85.66% of the creditors involved in the judicial reorganization. It is expected to happen by the end of the year, according to a source close to the company.
Information provided by Valor Econômico