A PYMNTS Company

Brazil: Newspaper reports Cargill wants Pilgrim’s Pride

 |  July 26, 2017

A Brazilian newspaper, O Estado de S. Paulo, reported on July 26 that commodities trader Cargill was considering a bid for Pilgrim’s Pride Corp, an American company controlled by Brazilian JBS SA.

JBS purchased Pilgrim’s Pride in 2009, but after its holding company, J&F Investimentos SA, received a US$3.2 billion fine for its role in corruption scandals the company has been looking to sell assets to raise the cash for the fine.

However, JBS has said that its stake in Pilgrim’s Pride is not part of its divestment plans.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.