BRAZIL: JBS silent over poultry unit IPO report
JBS has refused to comment on speculation it is looking to raise funds through an IPO of its poultry and processed foods division.
Brazilian meat firm JBS has refused to comment on "press speculation" it plans to raise BRL3bn (US$1.36bn) through an initial public offering of its poultry and processed foods division.
According to a report in The Wall Street Journal, "the firm plans to use the proceeds to pay down debt and make investments".
The news was first reported on the website of local publication Exame which suggested five investment banks including Banco Itaú BBA, Banco Santander, BTG Pactual and JP Morgan have been appointed to manage the IPO.
Speaking to just-food today (14 April), a spokesperson for JBS said it had "not issued any statement regarding an IPO". The spokesperson added: "The press is speculating and the company is not going to comment on speculation in the press."
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Synopsis The Canadean Global Top 10 Food Companies: Company Guide is a crucial resource for anyone looking to gain information on the top companies in the global food industry. Detailed company profil...
Synopsis The report presents detailed data on consumption trends in the Chilled Raw Packaged Meat - Processed category in Indonesia, analyzing consumption volumes and values at segment level. It also ...
Synopsis The report presents detailed data on consumption trends in the Cream category in United Arab Emirates, analyzing consumption volumes and values at segment level. It also provides indispensabl...
- Challenges for General Mills with The Good Table
- Greek crisis - The impact on shopper behaviour
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Briefing: The emergence of gluten-free in Spain
- B&G to acquire Green Giant from General Mills
- Mitsubishi buys stake in Olam International
- Unilever claims victory in Becel dispute
- Mondelez opens line at Poland chocolate plant
- Cheese maker Entremont moves into frozen food