JBS slaughterhouses reopen in Brazil

Agreement reached with government to continue operations.

Seven slaughterhouses in Mato Grosso do Sul, Brazil, that were closed last week after a judge froze nearly $230 million worth of assets of JBS S.A. and its holding company, J&F Investimentos, reopened on Tuesday after a meeting among government representatives, state prosecutors, collaborators and rural producers.

The court-ordered asset freeze was ordered by federal prosecutors as part of Operation Bullish, a money embezzlement investigation at Brazil's National Economic & Social Development Bank (BNDES) that favored JBS.

A JBS spokesperson said an agreement reached with state officials that allowed the facilities to reopen “will maintain the necessary conditions for the preservation of JBS operations in the region -- considered important for both the company and for Brazil -- to protect 15,000 direct and 60,000 indirect jobs in the state, as well as guarantee business relations in the state of Mato Grosso do Sul.”

JBS continues to reel from numerous scandals, while brothers Wesley and Joesley Batista, owners of JBS, remain jailed for insider trading that occurred just prior to them signing a plea deal in May. Joesley is also jailed for allegedly omitting information when he testified as part of a plea bargain.

TAGS: Business
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