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Brazilian Beef Producer JBS May Sell Shares in U.S.

Jul 27, 2009 11:27 AM, Source: Bloomberg.com; By: Jessica Brice and Dale Crofts

JBS selling U.S. shares

JBS SA, the world’s biggest beef producer, said its U.S. unit plans to sell shares to be listed on the New York Stock Exchange.

The unit, JBS USA Holdings Inc., also plans to sell Brazilian depositary receipts, Sao Paulo-based JBS said today in a statement to Brazil’s securities regulator.

JBS aims to become the largest beef distributor by the end of next year and has been approached by companies seeking to be acquired, Chief Executive Officer Joesley Mendonca Batista said.

To read the entire article, link here.