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JBS SA to Pursue Dual Listing Amid Shareholder Vote

JBS SA, the world’s largest meat producer, is set to undergo a significant decision as minority shareholders prepare to vote on a dual listing plan next week. The plan, which has been in the works for two years, involves listing JBS shares on the New York Stock Exchange (NYSE) and the Brazilian stock exchange, B3.

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The Batista Family’s J&F Investments and BNDESPar, the major holders of JBS SA capital, have agreed to let minority stockholders decide the fate of the dual listing. This move signifies a shift in decision-making power, as the majority shareholders, including the controversial Bastista brothers, will abstain from voting.

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JBS’s Chief Financial Officer, Guilherme Cavalcanti, expressed optimism about the potential benefits of the dual listing, emphasizing the opportunity to unlock shareholder value and expand the investor base. If approved, the company aims to start offering shares in the U.S. market by June.

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Tomazoni, another key figure at JBS, believes that the dual listing will enhance the company’s visibility in global markets, attract new investors, and solidify its position as a leader in the global food industry. The move comes as JBS continues to expand its presence worldwide, with production facilities in 17 countries.

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Founded in 1953 as a small butchery in Brazil, JBS has grown into a global powerhouse through strategic acquisitions and investments. The company entered the U.S. market in 2007 with the acquisition of Swift & Company, becoming the largest beef processor globally. Despite facing criticism for past controversies, including criminal activities and environmental issues, JBS remains a dominant force in the industry.

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In recent years, JBS has made significant investments in various regions, including Vietnam, Texas, and Colorado. Its first-quarter net income saw a substantial increase, reflecting its strong financial performance and growth trajectory.

However, JBS has not been without legal challenges, with fines from regulatory authorities for its involvement in bribery scandals. The Batista brothers, key figures in JBS’s history, have faced legal repercussions but have maintained their significant influence as controlling shareholders through J&F Investments.

Following its entry into the U.S. market, JBS made strategic acquisitions, including Swift Foods Co., Smithfield Foods’ beef processing operations, Pilgrim’s Pride, and Cargill’s pork processing operations. Despite legal hurdles and controversies, JBS’s expansion has continued, positioning it as a key player in the global meat industry.

As JBS prepares for the dual listing, with plans to move its headquarters to the Netherlands for tax advantages, the company is poised to enter a new phase of growth and international market presence. The decision by minority shareholders will shape the future trajectory of JBS and its standing in the global financial landscape.

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