JBS makes proposal to create new company based in Ireland

JBS Friboi brand owner, announced this Wednesday (11) reorganization plans that include creating a new holding company which will group the international business of the company with the harvest Foods. The change still needs to be approved by the Board of the company.
The new unit, which will be called JBS Foods International, will have its headquarters in Ireland and will be listed on the New York Stock Exchange, according to the company''s proposal.
The proposal, JBS S.A. will be called JBS Brazil, and will be kept as a publicly traded company, with shares traded on the BMF Bovespa, beyond its & business in Brazil. In addition to the beef segment, biodiesel, collagen, the carrier and its global division of hides.
Harvest operations, as well as Brazil, JBS will continue under the command of the current team, with its 125 1000 employees in Brazil, according to the company statement.
JBS Foods International plans to list its shares on the New York Stock Exchange (NYSE) and a Bds programme (certificates that allow investing in Brazil in foreign companies).
According to the company, JBS will still be controlled by Brazilian capital, having as its majority shareholder to J&F Investments. The central office and strategic decisions will be held in Sao Paulo.
The proposal was sent to CAF (Committee of acquisitions and Mergers), which decided that there will be no change in the ultimate control of the company, says the Communique. "The completion of the reorganization is subject to fulfilment of certain conditions, including the approval by the Board of Directors of the company, its shareholders, regulators and other applicable permits", concludes the note.