The Brazilian meat giant JBS is preparing to IPO on Wall Street. Couros division is not involved

The announcement came on Monday the 5th of December. JBS Foods International BV, the company based in the Netherlands which heads the international operations of Brazilian meat giant JBS is prepared by June 2017 to IPO on the New York Stock Exchange. At the moment the company has not yet communicated the extent of the shares placed on the market nor at what valuation it will be presented to the stock market. The Couros division is not involved in the transaction which remains under the control of the Brazilian headquarters. The flotation on Wall Street was part of a wider restructuring plan. JBS, on the ground, that the bulk of the revenue comes from non-Brazilian assets, along with the IPO in Wall Street it was also evaluating a corporate reorganisation with the move of their head office to Ireland. However, the investment bank BNDES Participações SA, a shareholder of the group participating at 20% wishing JBS, shelved the plan last October as it didn’t believe this operation was in the interests of shareholders. With the announcement of the IPO, the company also formally confirmed the new management asset of the JBS Foods International BV: Gilberto Tomazoni in the role of CEO, Russ Colaco as CFO and Wesley Batista as a non-executive chairman.


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