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JBS concludes Brazilian pork processing plant acquisition

Company pays 235 million reals, increases hog processing capacity.

JBS S.A. announced Aug. 1 that its controlled entity, Seara Alimentos Ltda., has concluded the previously announced acquisition of a hog processing plant, including its integration system, in the city of Seberi in Brazil's state of Rio Grande do Sul.

The acquisition price of the assets is 235 million reals and will be paid by Seara as follows: (1) 80 million reals through a transfer of the Frederico Refrigerated Pork Plant, located in the city of Frederico Westphalen in Rio Grande do Sul; (2) 115 million reals through debt assumption, and (3) 40 million reals in local currency.

The conclusion of this transaction was previously approved by the Brazilian antitrust authority and was in compliance with other usual conditions, as well as being aligned with the company's strategy to increase its hog processing capacity, JBS said.

 

TAGS: Business
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