Measures include sale of Moy Park, Five Rivers Cattle Feeding and JBS 19.2% stake in Vigor
Sao Paulo, June 20, 2016 – JBS has presented the Board of Directors with a Divestment Program for a number of company assets. Through the program, the company believes it will raise approximately R$ 6 billion (in addition to the R$ 1 billion already announced following the sale of the company’s operations in Argentina, Paraguay and Uruguay).
The assets involved in the Divestment Program are: (i) disposal of the company’s 19.2% stake in Vigor Alimentos S.A.; (ii) disposal of the company’s stake in Moy Park, and (iii) disposal of Five Rivers Cattle Feeding and farms.
The Divestment Program is intended to reduce net debt and deleverage the company, strengthening its financial position.
Sale of assets under the Divestment Program is subject to approval from the Board of Directors and prior consent from BNDESPAR, as per the terms and conditions of the shareholder agreement, where applicable.
Management will make market disclosures of any material facts related to the Divestment Program in accordance with applicable legislation.
JBS is one of the world’s leading food industry companies with approximately 235,000 employees in over 20 countries. The company owns a portfolio of brands that are acknowledged for their excellence and innovation, such as Doriana, Friboi, Moy Park, Pilgrim’s Pride, Primo, Seara, Swift and others, serving over 300,000 customers of more than 150 nationalities worldwide. The company’s focus on innovation also reflects its management approach to related businesses in areas such as leather, biodiesel, collagen, personal hygiene and cleaning products, natural wrappings, solid waste management solutions, metal packaging and transportation. JBS has adopted best corporate governance and sustainability practices throughout its value chain and its operational management focuses on guaranteeing high food quality and safety and animal welfare.
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