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Brazil's JBS restarts share buyback for up to 10 pct of stock
July 23, 2013 / 2:06 PM / 4 years ago

Brazil's JBS restarts share buyback for up to 10 pct of stock

SAO PAULO, July 23 (Reuters) - Brazil’s JBS SA, the world’s largest meats processor, said in a market filing on Tuesday that its board had on July 4 renewed a buy-back program for up to 10 percent of its shares in circulation.

The company said it already had 76.1 million shares in the company’s treasury from an earlier active period of the same buyback program and expected to acquire as many as 91.5 million additional common shares.

This would bring the potential number of shares bought back to 167.6 million, or 10 percent of total shares in circulation. The buyback program will last 365 days, or until July 4, 2014.

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