SÃO PAULO, Brazil – JBS SA announced plans to create a new company called JBS Foods International that will be listed on the New York Stock Exchange and on BM&F Bovespa. The proposed reorganization is subject to approval by the JBS board and shareholders in addition to other regulatory and legal conditions.

JBS said it will fold its international businesses and its Seara Alimentos chicken processing business into JBS Foods International and change JBS SA to JBS Brasil. JBS Brasil will hold the company’s Brazilian beef, biodiesel, collagen and carrier businesses along with its global leather business.

Additionally, shareholders will receive one share of JBS Foods International for every share of JBS SA that they own. Shareholders of JBS SA stock can then trade in their JBS SA shares for more shares in JBS Foods International. If 50 percent or more JBS SA shares are traded in, JBS Foods International will become the parent company and JBS SA will become a wholly owned subsidiary.

The executive leadership will not change under the proposed reorganization, the company said, and JBS Group will continue to be controlled by its existing Brazilian shareholders, including its major shareholder J&F Investimentos.

“The proposed reorganization is a natural step in the continuing development of JBS as a leading Brazilian company in the global food industry,” Wesley Batista, CEO of the global business, said in a statement. “We have carefully considered various strategic alternatives to enhance the value of our company and we believe that the proposed reorganization offers the greatest potential to deliver long-term value to our stakeholders.”

JBS SA believes the reorganization will give the company access to international equity and debt capital markets that will enable JBS to raise money to support its operations. “This will enhance the company’s ability to participate in the increasing consolidation of the global food industry and to better compete with other global food companies for international development opportunities,” the company said in a statement.