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Council for Economic Defense Imposes Fine on JBS SA

Thursday, 18 Apr 2013 08:36am EDT 

JBS SA (JBS) announced that Administrative Council for Economic Defense (CADE) on April 17, 2013 unanimously approved the 12 operations of purchases and leases made by the Company between 2009 and 2012 and submitted for analysis.Thus, all the incorporated units will continue to be administered by the Company without any kind of constraint. Besides approving the operations, JBS signed a Statement of Performance Commitment (TCD) with CADE. In this term, JBS is committed to inform CADE on all future operations of purchase and lease which the Company perform within the period 30 months from the date of April 17, 2013. Because of the fact that there were untimely submissions of lease cases held by the Company, CADE decided to impose a fine in the amount of BRL 7.38 million. This amount will be fully paid by the Company. 

Company Quote

0.15 +1.24%
9:23am EST