Rumors are that JBS (who denies them) is going to sell Australian division. MLA expects 2018 to be “poor”

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JBS’s business in Australia needs a little investigation. According to local press, relationship between JBS’s Aussie division and UBS bank is getting closer and closer, not just for the current financial needs of the Brazilian multinational corporation. As the detective story goes, JBS is about to supposedly prepare the transfer of their Australian branch. JBS Australia denied rumors, while responding to Beef Central: no transfer is forthcoming. Yet, taking into account the group’s debt situation, and their demand for cash, such transfer looks reasonable: in fact, the Australian asset is worth “at least” 2 billion dollars, thanks to 11 manufacturing plants and 130,000 livestock units. In the meantime, MLA, the Australian meat and livestock association, expects 2018 to be a poor year for livestock and farming industry: while restock of breeding farms is still underway, livestock units to be slaughtered are about 7,4 million, running steadily on annual basis.

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