Brazilian ministry gives nod to JBS-Bertin deal
May 2, 2011
by Meat&Poultry Staff
SÃO PAULO, Brazil – JBS SA announced the Ministry of Justice's Secretariat of Economic Monitoring (SEAE/MF) issued a summary of a statement regarding Concentration Act number 08012.008074/2009-11, which focuses on the association between JBS and Bertin SA suggesting approval of the transaction, subject to the sale of a slaughterhouse in the states of Goiás and Minas Gerais equivalent to Bertin's market share in these states prior to the transaction.
SEAE/MF's opinion, however, is a non-binding document and the conclusions can not necessarily be considered as an indicative of the final decision to be issued by the Administrative Council for Economic Defense ("CADE") — the organization that will be responsible for the final decision regarding the anti-competitive aspects of the referred transaction.
JBS executives believe the transaction does not violate antitrust laws in such states and will continue to actively cooperate with the responsible authorities to have the transaction approved.