CADE approves unrestricted purchase of subsidiaries of JBS Argentina, Paraguay and Uruguay on the Minerva

SAO PAULO-the supervision of the Administrative Council for economic Defense (Cade) approved, without restrictions, the acquisition of the operations of JBS Argentina, Paraguay and Uruguay on the Minerva, second order published in the Official Gazette on Monday. On 6 June, JBS announced the sale of all the shares of its subsidiaries of beef in Argentina, Paraguay and Uruguay to the Minerva group for 300 million dollars, of which 280 million dollars in cash at the closing of the transaction and the rest after the conclusion of the due diligence process. But on June 21 the Federal Court in Brasilia barred the operation, saying that the sale could jeopardize the clarification of facts investigated under the tipoff executives established J&F, the holding company that controls the largest global producer of meat.