JBS free to pursue IPO

by Meat&Poultry Staff
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SÁO PAULO, Brazil – JBS SA's on-again, off-again initial public offering of JBS Foods is on again after CVM, Brazil's securities regulator, lifted its suspension of the IPO on Dec. 2.

JBS is seeking to raise roughly $1.6 billion from an IPO of JBS Foods, the company's processed food unit. CVM lifted the suspension on the condition that JBS waits until after Christmas to start taking orders for investment. JBS plans to list its shares on the Sáo Paulo Stock Exchange's Novo Mercado.

In other company news, JBS Finance II Ltd. launched a cash tender offer for the company's outstanding $900 million aggregate principal amount of 8.25 percent notes due in 2018.

JBS is the world's largest animal-protein processor. The company offers fresh, further processed and value-added beef, pork, lamb and poultry products in approximately 150 countries.
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