- JBS SA is ready to revive its delayed plans for a $1.8-billion initial public offering of its food-processing business and pork and poultry operations, according to a report by Reuters. The deal may come as early as next month.
- The IPO would create a new company from the units, which account for roughly 10% of the revenue produced by the world's largest meatpacker.
- JBS had planned the deal earlier in the year, and reportedly hired JPMorgan to run the transaction, but decided to delay its plans when markets declined in Brazil.
JBS can likely take heart from the other meat-processing IPO that was delayed earlier this year: China's WH Group also found itself facing a less-than-enthusiastic market when it first prepped for an offering earlier this year. WH Group, like JBS, decided to back away and rethink the process. And when WH Group finally made its move in early August, it went quite well.