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JBSS3.SA on Sao Paolo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

JBS Foods International files for ordinary shares offering of up to $3.08 bln - SEC filing
Friday, 5 Aug 2016 05:32pm EDT 

JBS Foods International Designated Activity Co : Files for ordinary shares offering of up to $3.08 bln-sec filing .Filing the form f-1 to register distribution, that is part of proposed global reorganization of JBS S.A.  Full Article

JBS SA - Brazil tax agency alleges fraud in 2009 JBS-Bertin merger -Estado - Reuters
Sunday, 28 Feb 2016 06:13pm EST 

JBS SA:Brazilian tax authorities allege that the 2009 merger of JBS SA and the Bertin Group, which created the world's largest meatpacker, involved fraud that harmed minority shareholders, the Estado de S. Paulo newspaper reported on Sunday - RTRS.The allegations stem from a tax investigation of companies in the Bertin Group and have already resulted in an assessment of 3 billion reais ($751 million) in unpaid taxes and fines, the paper, one of Brazil's largest, said.While the main goal of the investigation was to collect taxes, authorities also allege the transaction between JBS and the Bertin Group involved the sale of undervalued assets and was structured in a way to make the takeover of Bertin's meatpacking unit assets by JBS look like a merger of equals.JBS arranged for the merger with the financially troubled Bertin Group by issuing 12 billion reais of new JBS stock, the paper reported.Minority shareholders were hurt in part, according to tax authorities, because JBS valued the shares given to Bertin at the market value of 8.8 bln reais but J&F Investimentos, the holding company that controls JBS, only valued them at 4.9 bln reais, Estado said, citing tax authorities.Bertin also gave up control of the bulk of the shares it said it was placing in J&F to complete the merger to a company that is still part of the controlling group, the paper said.  Full Article

JBS SA shares fall after executives charged - Reuters
Tuesday, 26 Jan 2016 10:50am EST 

JBS SA:Shares of Brazilian meatpacker JBS SA fell more than 8 percent on Tuesday after prosecutors charged the head of its controller J&F Investimentos and eight others from the JBS group and bank Banco Rural with crimes against the financial system. - RTRS.In a statement on Tuesday, prosecutors said companies within Grupo JBS had passed on loans to each other in 2011, which is illegal in Brazil. JBS and J&F representatives did not immediately respond to a request for commen - RTRS.  Full Article

JBS SA's subsidiary JBS USA completes acquisition of Cargill Pork LLC's assets
Friday, 30 Oct 2015 04:03pm EDT 

JBS SA:Says its subsidiary JBS USA has completed acquisition of Cargill Pork LLC’s (Cargill Pork) goods, properties, rights and obligations of Cargill Meat's ownership.Says deal includes two meat processing plants in Iowa and Illinois, five feed mills in Missouri, Arkansas, Iowa and Texas and four swine farms in Arkansas, Oklahoma and Texas.Says has paid about $1.45 billion in total.Says pro-forma net earnings of about $6.3 billion, processing capacity of 90,000 pigs per day and 2.0 million pounds of bacon per week from combination of Cargill Pork’s and JBS USA Pork’s operations in USA.  Full Article

JBS SA - Bacon and other processed meats can cause cancer, experts say - Reuters
Monday, 26 Oct 2015 03:59pm EDT 

JBS SA:Eating processed meats like hot dogs, sausages and bacon can cause colorectal cancer in humans, and red meat is also a likely cause of the disease, World Health Organization (WHO) experts said - RTRS.The review by WHO's International Agency for Research on Cancer (IARC), released on Monday, said additionally that there was some link between the consumption of red meat and pancreatic cancer and prostate cancer - RTRS.Each 50-gram (1.8-ounce) portion of processed meat eaten daily increases the risk of colorectal cancer by 18 percent, the agency estimated - RTRS.A 50-gram portion would be the equivalent of eating one hot dog or two slices of bacon. Americans eat about 21.7 grams of processed pork per day, according to a 2011 National Health and Nutrition Examination Survey - RTRS.Red meat was classified as probably carcinogenic in IARC's group 2A list, joining glyphosate, the active ingredient in many weedkillers.The IARC examined some 800 studies during a meeting of 22 health experts earlier this month.The Canadian Meat Council, which represents meat packers such as Maple Leaf Foods and the Candian-based units of Cargill Ltd. and JBS SA, rejected the findings as simplistic, while trade group North American Meat Institute said the IARC report "defies common sense." - RTRS.  Full Article

Fitch Ratings upgrades JBS SA rating
Wednesday, 30 Sep 2015 05:02pm EDT 

JBS SA:Fitch Ratings upgrades company's rating to BB+ from BB with outlook stable.  Full Article

JBS SA completes acquisition of Moy Park Holdings Europe Ltd from Marfrig Global Foods SA
Tuesday, 29 Sep 2015 02:35am EDT 

JBS SA:Completes acquisition of 100 percent of Moy Park Holdings Europe Ltd from Marfrig Global Foods SA.Purchase price was $1.21 billion plus assumption of debt of 193 million British pounds.  Full Article

JBS SA makes voluntary public tender offer for Scott Technology Limited
Thursday, 20 Aug 2015 10:07am EDT 

JBS SA:Says that its indirect controlled subsidiary, JBS Australia Pty Limited, has made a conditional offer to acquire a majority stake in the share capital of Scott Technology Limited.The investment proposal from JBS to Scott shareholders is to acquire a minimum of 50.1% of shares at an offer price of 1.39 New Zealand dollar per share, representing an equivalent market capitalization of 63 million New Zealand dollars.Scott Technology Limited is a New Zealand-based listed technology company with operations throughout the world.  Full Article

JBS SA renews its share repurchase program
Friday, 14 Aug 2015 09:25am EDT 

JBS SA:Says that, on Aug. 12, its Board of Directors approved the renewal of its share repurchase program, to run for 365 days until Aug. 12, 2016.Considering the 57,309,482 treasury shares held by the company, the number of shares to be acquired is of up to 116,102,539 common shares, which totals 173,412,021 shares, equivalent to 10 pct of outstanding shares.  Full Article

JBS SA contracts $1.2 bln credit line for US Cargill's pork assets acquisition
Monday, 13 Jul 2015 08:47am EDT 

JBS SA:Says that on July 10 its indirect wholly-owned subsidiary JBS USA LLC received $1.2 billion long-term credit line.Funds will be used to finance US Cargill's pork assets acquisition.Credit line with maturity in 7 years and estimated interest based on Libor (min. rate for Libor rate 0.75 percent) plus 2.75 percent per annum.Credit providers are Credit Suisse AG, Bank of America Merrill Lynch and Rabobank Nederland, New York branch.  Full Article

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UPDATE 2-Brazil's JBS says Joesley Batista resigns as chairman

SAO PAULO, May 26 JBS SA, the world's largest meatpacker, said on Friday that the brothers Joesley and Wesley Batista, who own the company and are ensnared in a corruption scandal that threatens to topple Brazil's President Michel Temer, have resigned from senior posts.