Sao Paulo | Reuters — JBS SA, the world’s largest meatpacking firm, remains intent on a stock market listing of subsidiary JBS Foods International in the U.S. despite corruption and food safety scandals, executives said on Thursday. In April all of JBS operations will meet U.S. auditing and compliance requirements under the Sarbanes-Oxley Act, JBS […] Read more
JBS still keen on U.S. IPO despite scandals
JBS to shed U.S. feedlot chain
The remaining feedlots in meat packing giant JBS’s Five Rivers Cattle Feeding business, the world’s biggest cattle feeding operation, have found a buyer. JBS on Wednesday announced a deal to sell the U.S.-based assets of Five Rivers to affiliates of New York-based Pinnacle Asset Management for about US$200 million. The deal gives Pinnacle 11 feedlots […] Read more
JBS says listing of U.S. unit remains priority
Sao Paulo | Reuters — Brazilian meatpacker JBS SA said listing a subsidiary in the U.S. remained a priority, even as two controlling shareholders in the company remain in jail for insider trading and their role in a corruption scandal. The long-planned initial public offering of its processed food subsidiary JBS Foods International BV was […] Read more
JBS pulls plan for U.S. unit IPO
Sao Paulo/Brasilia | Reuters –– JBS SA has pulled a planned US$500 million U.S. initial public offering of processed food subsidiary JBS Foods International BV, almost six months after a spree of corruption and food safety scandals in Brazil hurt investor demand for the deal. In a Friday filing with the U.S. Securities and Exchange […] Read more
JBS aims to shed Alberta feedlot in divestment plan
Sao Paulo/Chicago | Reuters — Brazilian meatpacker JBS SA revealed a major divestment plan Tuesday, putting its Alberta cattle feeding assets and others on the block to cut debt after a corruption scandal raised concerns about its financing costs. JBS, whose controlling shareholder recently agreed to pay a massive leniency fine after becoming embroiled in […] Read more
JBS says Pilgrim’s Pride stake not for sale
Chicago | Reuters — Brazilian meat packer JBS SA’s core U.S. assets, including its majority stake in Pilgrim’s Pride Corp., are not for sale, the company said on Wednesday, a day after announcing a deal to sell Argentine operations. U.S. chicken company Pilgrim’s Pride is critical to JBS’ long-term strategy of pursuing business opportunities that […] Read more
JBS brothers test dealmaking skills in Brazil plea deal showdown
Sao Paulo/Washington | Reuters — The brothers whose deft dealmaking helped build JBS SA into the world’s No. 1 meat processor are testing that talent like never before as they seek a leniency deal with prosecutors after admitting to paying millions of dollars in bribes to Brazilian politicians. JBS and its controlling shareholder J+F Investimentos, […] Read more
Family sawmill a link to the pioneer days of Alberta
Reading Time: 2 minutes It’s well known that the Leonardo DiCaprio movie “The Revenant” was filmed in southern Alberta. What’s not is that a lot of building materials used to create the West of 1820s came from the Brooks Sawmill near Cochrane. The film is one of several westerns the sawmill has supplied among its highly eclectic client list. […] Read more
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