Brazil-based meat giant JBS has labelled reports it is weighing up whether to return to plans to float its US unit as "press speculation".

Bloomberg, citing two unnamed sources, said JBS is considering reviving the plan as stock valuations in North America rise compared to those seen in Brazil.

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The news agency said JBS had contacted investment banks over the matter, although no decision had been made

When contacted by just-food, a spokesperson for JBS said: "All this talk about IPO is press speculation. We have no comments to make."

Earlier this month, JBS suspended plans to list its domestic processed food business, JBS Foods, in Brazil.

It cited "market conditions" for the decision.

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