The US division of JBS multinational corporation formalized the transfer of Five River Cattle to Pinacle Asset Management fund for 200 million dollars. That is part of the divestiture plan, announced by the Brazilian group before summer, to face and tackle financial instability following the big Lava Jato scandal. Five River Cattle currently runs 11 breeding farms, located in 6 states in the USA, with over 900,000 livestock units (which are part of the deal) and 600 employees. According to the agreement signed with Pinacle Asset Management, Five River Cattle will keep supplying JBS’s plants. Meanwhile, Reuters have reported that allegedly the Batista brothers, Wesley and Joesley, are about to plead guilty to insider trading (after being charged with such crime, they have been jailed for months) to shield their application for leniency that is pending before Brazilian court. The Batista family solicitors have not confirmed the news though.
JBS sells Five River Cattle: the meat giant, 1 million cattle units, is valued at 200 million dollars
