Brazil beef producer JBS plans food unit IPO to raise $2.26 bln

BRASILIA Tue May 20, 2014 6:27pm EDT

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BRASILIA May 20 (Reuters) - JBS S.A., Latin America's biggest beef producer, expects to raise about 5 billion reais ($2.26 billion) from an initial public offering by its wholly-owned food processor unit JBS Foods, a company source said on Tuesday.

JBS, which controls leading beef exporter Friboi, said in a securities filing that it plans to launch the IPO on the Novo Mercado segment of the Sao Paulo stock exchange.

($1 = 2.2148 reais) (Reporting by Roberto Samora; Editing by David Gregorio)

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