JBS ups ownership of Pilgrim's Pride with stock buy
November 9, 2010
by Meat&Poultry Staff
SÃO PAULO, BRAZIL – JBS SA announced the purchase of 7 million shares of common stock in Pilgrim’s Pride Corp. listed on the New York Stock Exchange for a total of US$41,720,000. The newly purchased shares represent 3.27% of PPC’s outstanding shares and increases JBS ownership in the poultry company to 67.27%.
Pilgrim’s officials said the sale was made to further divest the Pilgrim family’s investments