Friday, October 27, 2017

J&F closes sale of Force to Mexican by R $5 billion

After weeks of intensive negotiations, the Bailey brothers managed to complete the sale of the effect for the Mexican company Lala, which will pay R $5.025 billion to stay with 99.9% of the dairy company.
The operation, announced on Thursday, 26, brings relief to the financial holding company J&F as for JBS, the main company of the group.
The Mexican company's announcement came after some market sources saying that there would be fear of the Mexican group to go ahead with the purchase of the Force.
The value hit $1.1 billion, refers to the slice of the food company, who owned about of 20% of the Force. After discounts, the transaction will inject R in JBS $786 million. The R $3.9 billion remaining are related to actions of Force held by the holding company J&F.
According to sources, the operation is crucial to balance the finances of the group, who was gunned down by strong crisis and whose owners, Joesley and Wesley Batista, are trapped.
The Baptists had already raised R $4.5 billion with sales of the shoe company Alpargatas and part of the pulp company Eldorado.
The value paid by Lala is still subject to adjustments, informed the Mexican.
Itambé. The R $5.025 billion announced consider purchase Lala half of Itambé. Mexicans await, however, Cooperativa Rural producers of Central Minas Gerais (CCPR), which has today 50% of Itambé and right of pre-emption in the acquisition of the remaining shares.
The CCPR expressed interest in keeping 100% of the company, but attempts to raise the funds to make the purchase. If the cooperative makes offer to stay with all the Itambé, the value paid by Lala will fall to $4.325 billion, according to the R.
Estadão – 27/10/2017
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