Brazilian meat group JBS said today (1 July) that it had nothing to do with a corruption probe that led to a police raid on offices of another firm owned by JBS’ majority shareholder J&F Participacoes.
JBS spoke out after the national public news agency, Agencia Brasil (ABR), reported a raid by federal police on the offices of pulp and paper firm Eldorado Brasil Celulos.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
ABR said the raid was in connection with a far-reaching probe into allegations of corruption. However, JBS said in a statement that “neither the company or any of its executives are the target of, or are related to, the federal police operation which occurred this morning in Brazil”.
Last January, J&F denied claims that JBS group executives were linked to “crimes against the financial system” as shares in the Brazilian meat giant fell more than 14.71% to US$8.41.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
