Dive Summary:
- JBS SA will reportedly buy assets from Marfrig Alimentos SA's Seara Foods unit.
- A Sunday report by the Wall Street Journal cited unidentified people close to the deal as saying JBS would purchase Seara's Brazilian poultry unit for between $2.5 and $3 billion, pushing it past Tyson Foods Inc. as the world's largest poultry producer.
- JBS is already the world's largest beef producer and controls U.S. chicken producer Pilgrim's Pride Corp., and the deal is meant to help Marfrig, the Western Hemisphere's most indebted meatpacker, cut its $4.7 billion net debt in half.
From the article:
... Spokesmen for Marfrig and JBS, both Sao Paulo-based companies, who can’t be named because of internal policy, declined to comment on the deal when contacted by Bloomberg News yesterday. ...
