JBS agrees €3bn settlement after Brazilian meat scandal

Meat processor JBS has accepted Brazil’s federal prosecution office’s offer of a multi-billion euro fine to be paid back over more than two decades.

31 May 2017

JBS agrees €3bn settlement after Brazilian meat scandal

The office of Brazil’s federal prosecutor had offered J&F Group – the holding company holding a majority stake in JBS – terms which would see the company pay a €3bn fine in six-monthly instalments over the next 13 years.

JBS announced on Wednesday that it has entered into the leniency agreement with the Brazilian federal prosecutor’s office, although it has changed the payback time to 25 years.

Agreement

This leniency agreement includes the payment of R$10.3 billion (€3bn) over 25 years payable solely by J&F and as it relates to JBS includes federal police investigations known as Bullish and Weak Flesh.

The Company’s Management said it will keep the market informed about the developments of this agreement as they relate to JBS.

Full coverage: Brazilian meat scandal

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