JBS gets controlling interest in Pilgrims Pride

by Bryan Salvage
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SÃO PAULO, BRAZIL — JBS S.A. announced on Dec. 28 that JBS USA Holdings Inc., through the subscription of new shares, became the owner of shares representing 64% of the total and voting capital stock of Pilgrim’s Pride Corporation based in Pittsburg, Texas for $800 million, paid in cash. The local bankruptcy court approved the acquisition.

On Dec. 29, Pilgrim’s Pride Corporation's shares will resume trading on the New York Stock Exchange under the ticker "PPC" having spent almost 13 months delisted while the company worked on a successful reorganization plan.

Pilgrim’s Pride Corporation will be controlled by JBS USA, a subsidiary of JBS S.A.

 

 

 

 

 

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