Friday, August 04, 2017

Mexican group Lala purchase latícinios-producing Force of brothers Baptist by R$5,7 bi

SAO PAULO (Reuters)-the Mexican dairy group Lala signed on Thursday agreed to buy the brazilian manufacturer of dairy products in an operation that evaluates the company as worth 5.7 billion reais.
The value corresponds to the participation of about 20% owned by meat processor JBS and the remaining 80% held by the holding J&F. J&F are groups JBS and controlled by the Baptist family, was forced to get rid of assets after the scandal that began in may by winning the brothers Snitching Joesley and Wesley Batista involving President Michel Temer.
Reuters published on Monday, citing sources, that Lala was close to buying Force, business by which offered 5.7 billion reais for J&F and JBS.
The Force is the second sale made by J&F from the leniency agreement related to acute corruption scandal at car wash operation and its consequences and that threw a $10.3 billion reais the company. On 12 July, the J&F has completed the sale of the footwear manufacturer Alpargatas by 3.5 billion reais.
JBS said in a statement on Thursday that estimates that will receive around 780 million reais from the sale of your participation and that the operation was approved by the Board of directors unanimously. "JBS wants to use part of the funds obtained from the operation to pay off debt." The J&F did not inform the destination of the resources they will receive from the sale of the Force.
Reuters - 03/08/2017
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