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Serving: United States

Plant Sales Could Allow JBS Transaction

Court proceedings of JBS purchase of National Beef on hold.

Brazil's JBS S.A. and the Kansas City, Missouri based National Beef Packing Company may have found a way to complete JBS's acquisition of NBP. Documents filed in the U.S. District Court in Chicago indicate the two companies might sell plants to enhance competition in certain geographical areas. Because of this breakthrough in talks, further court proceedings are on a two week hold.

The paperwork, filed by the U.S. Department of Justice, says plaintiffs will need to investigate any serious settlement proposal to determine whether it would adequately restore the competition that would be lost if JBS S.A. acquires National Beef. The papers also say plaintiffs must ensure that any divestiture proposal includes all of the assets necessary for a purchaser to be an effective, independent, long-term competitor, including the tangible and intangible assets necessary for purchasing, production, distribution, and sales.

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