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Brazil - JBS sees appeal over asset sales rejected
06 July 2017

A Brazilian supreme court justice has rejected an appeal from packing and tanner group JBS over the blocking of the sale of some of its assets, Reuters reports.

On June 20, JBS announced the sale of its beef operations in Argentina, Paraguay and Uruguay for $300 million to rival Brazilian group Minerva. On June 21, a court in Brazil ruled that these sales could not go ahead and JBS said it had suspended the sale.

Justice Edson Fachin has upheld the lower court’s ruling that the deal could harm the investigation into the corruption scandal that has engulfed JBS. 


Information courtesy of Leatherbiz

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