JBS Completes Acquisition of Independência04 February 2013
BRAZIL - Brazilian meat processor JBS has completed the acquisition of Independência.
The assets of the company were being held by BNY Mellon Financial Services Distributor Securities, who were acting on behalf of the creditors.
The assets of the company ninclude four refrigeration plants in New Andradina, Campo Grande, Senator Canedo and Rolim de Moura, two tanneries in New Andradina and Colorado D ' West and two warehouses and distribution centres in Cajamar and Santos.
The acquisition was made through the sale of 22,987,331 common shares of the Company held in treasury. The use of treasury shares for the acquisition was authorized by the Brazilian Securities Commission - CVM.
JBS has also signed a contract to rent the facilities of Tramonto Alimentos SA in the city of Morro Grande, in the state of Santa Catarina for five years with the possibility of extension for another five years.
The facilities comprise a factory for processing up to 120,000 birds a day. It is fully operational and approved for major export markets and it also manufactures feed, compatible with the processing capacity of the unit.
The company plans to incorporate the activities of this plant to other chicken units in the region under the banner of JBS BIRDS.
The goal is to serve mainly export markets, offering its customers quality products and competitive prices, bringing thus greater value for its shareholders.
TheMeatSite News Desk