JBS cancels reorganization plan

JBS cancels reorganization plan

JBS SA, the world's largest beef processor, announced Oct. 26 that it has canceled its plan for a proposed reorganization to spin off its international businesses into a new company called JBS International after Brazil's national bank, Banco Nacional de Desenvolvimento Economico e Social (BNDES), vetoed the company's plan.

According to Wesley Batista, JBS SA chief executive officer, the bank said the reorganization was not the best way for the com

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