SAO PAULO, July 23 Brazil's JBS SA,
the world's largest meat processor, said in a market filing on
Tuesday its board renewed a buyback for up to 10 percent of its
outstanding shares on July 4.
The company said it had 76.1 million shares in its treasury
from an earlier period of the same repurchase program and
expected to acquire as many as 91.5 million additional common
This would bring the potential number of shares bought back
to 167.6 million, or 10 percent of the total in circulation. The
buyback program will last 365 days, or until July 4, 2014.
Its common shares were up 0.6 percent at 6.94 reais in early
trading, while the main Bovespa index on the BM&FBovespa
exchange was up 0.8 percent.
JBS recently snapped up the Seara pork and poultry division
of cash-strapped, Brazilian rival Marfrig Alimentos SA
, putting it toe-to-toe against Brazil's other
processed food heavyweight BRF SA.