JBS group offloads Brazilian dairy to Mexican firm
A company associated with JBS, the largest meat processor in the world, is being sold as part of efforts to restructure the company and pay fraud penalties.
J&F Investments, JBS’s holding company, has signed an agreement to sell dairy company Vigor Alimentios SA to Mexico’s Grupo Lala SAB de CV for 2.7bn reais (€1.566bn).
J&F has been selling assets around the world to help fund the payment of 10.3bn reais (€2.78bn) fines imposed in a recent corruption scandal.
Companies sold recently include Havaianas flip-flop maker Alpargatas SA, which the group ceded to an investment firms of Brazil’s most prominent banking families for 3.5bn reais (€0.945bn) in July.
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Dungannon, Co Tyrone-based poultry processor Moy Park and its 9,000 employees are also part of the divestment plan, even though JBS purchased the company just two years ago.
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Title: JBS group offloads Brazilian dairy to Mexican firm
A company associated with JBS, the largest meat processor in the world, is being sold as part of efforts to restructure the company and pay fraud penalties.
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J&F Investments, JBS’s holding company, has signed an agreement to sell dairy company Vigor Alimentios SA to Mexico’s Grupo Lala SAB de CV for 2.7bn reais (€1.566bn).
J&F has been selling assets around the world to help fund the payment of 10.3bn reais (€2.78bn) fines imposed in a recent corruption scandal.
Companies sold recently include Havaianas flip-flop maker Alpargatas SA, which the group ceded to an investment firms of Brazil’s most prominent banking families for 3.5bn reais (€0.945bn) in July.
Dungannon, Co Tyrone-based poultry processor Moy Park and its 9,000 employees are also part of the divestment plan, even though JBS purchased the company just two years ago.
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