By Tatiana Bautzer, Aluisio Alves and Carolina Mandl
By Tatiana Bautzer, Aluisio Alves and Carolina Mandl
SAO PAULO, March 4 (Reuters) – Brazilian meatpacker JBS SA JBSS3.SA and state growth financial institution BNDES are planning a simultaneous itemizing of JBS worldwide operations within the United States and the sale of the financial institution’s stake within the firm, 5 sources with data of the matter mentioned.
Sources near the corporate say JBS is engaged on a transaction that’s completely different from the one proposed in 2016.
The U.S. itemizing can be simultaneous with the partial or full sale of BNDES’ 21.3% stake in JBS, two of the sources mentioned.
The transaction mannequin isn’t but last, as discussions are ongoing. However JBS expects to spin off its worldwide operations to be listed in New York as a separate firm with the identical shareholders, however not a subsidiary. Operations in Brazil will proceed underneath JBS SA, at the moment listed on the Sao Paulo inventory alternate.
Round 75% of JBS’ income is obtained…