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JBS Buys Bertin

by 5m Editor
18 September 2009, at 8:59am

BRAZIL - Brazilian meat processing giant JBS has bought Brazilian beef processing competitor, Bertin.

The two companies have established a new holding company in which JBS would put all their stock and Bertine a 73.1 per cent stake.

In a stock market statement JBS and Bertin say the new company would be on a 60:40 equity split.

The two companies are at present examining the best structure for the company although JBS is in teh advanced stages of negotiating a $2.5 billion capitalisation for JBS USA Holdings.

The link up between JBS and Bertin is subject to Brazilian and international anti-trust approval.