Brazil’s federal police detained the CEO of JBS SA, the world’s No 1 meatpacker, saying he used insider information to avoid hefty losses related to a plea bargain signed earlier this year. Wesley Batista, who has been at the helm of JBS since 2011, was detained under an arrest warrant against him and his younger brother Joesley Batista for suspected insider trading.
JBS USA, a unit of São Paulo, Brazil-based meat packing giant JBS SA, has formed an independent advisory board that will provide counsel to the company’s executive leadership on corporate governance, government and regulatory affairs and other matters.
Brazilian police launched an investigation of fraud at state-run companies' pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the chief executive of the world's biggest beef exporter.
Brazilian meats giant JBS SA plans to focus on Australia, U.S. pork operations and its processed foods division under a 2015 strategy focused on organic expansion rather than acquisitions, CEO Wesley Batista said on Thursday, and estimated that between 2.5 billion to 3 billion reais (806 million/967 million dollars) in capital investment will be needed this year to support the strategy.
Brazil's JBS, the world's biggest meat group, beefed up its growth in Australia with the 1.25bn dollars purchase of Primo Smallgoods Group. JBS said that through its JBS Australia business, it had paid Aus$1.45bn in cash for the supplier of the likes of ham and bacon to Oceania.
Brazil’s JBS, the world's biggest beef producer is on the verge of exiting Argentina due to a difficult business environment and because it is not prepared to tolerate further losses in the country.
Brazil's JBS, the world's biggest beef producer, intends to expand its dairy business with strategic plans next year after the unit's double-digit growth in recent years.
Brazil’s JBS SA, the world’s biggest beef producer, is betting on a rebound in U.S. meat sales as a weak dollar makes production in the country as competitive as in emerging markets.