Brazil's meats exporter Friboi files for IPO

Tue Feb 6, 2007 8:02am EST
 
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SAO PAULO, Feb 6 (Reuters) - JBS-Friboi, Latin America's biggest beef exporter and processor, filed on Tuesday with Brazil's securities regulator to sell shares in an initial public offering.

Friboi is one of many Brazilian companies in the agriculture sector planning to sell shares this year to benefit from the country's booming capital markets. Other meat companies that analysts have said are candidates include Bertin, Independencia and Marfrig.

Sugar mill Cosan (CSAN3.SA) said last week it may hold a secondary share offering to buy milling group Vale do Rosario, while sugar company Sao Martinho has filed to sell shares as early as this week.

Friboi, which bought Swift of Argentina in 2005, said JP Morgan and UBS Pactual will manage the deal.

The meatpacker earned 180.3 million reais ($86 million) on revenue of 4.3 billion reais last year.

($1 = 2.08)

 

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