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  • JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds Brazilian meat packer JBS reached an agreement to sell its stake in Moy Park to Pilgrim's Pride Corporation for about 790 million pounds. Moy Park was valued at 1 billion pounds (US$ 1.3 billion). The transaction was unanimously approved by a special committee of Pilgrim's board of directors and JBS board. According to the Brazilian company, the proceeds from the operation will be used to amortize short-term debt in Brazil, improving its debt profile and liquidity. JBS, which is Pilgrim's largest shareholder, said the divestment would allow it to maintain sound financial performance with diversified assets in line with its intent to open the capital of one of its subsidiaries in the United States. The Brazilian company further stated that the transaction would create a more efficient corporate structure and that "Pilgrim's leadership is poised to extract even more value from Moy Par..

    JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds

    JBS: Company Sells Moy Park To Pilgrim's Pride For 790 Million Pounds Brazilian meat packer JBS reached an agreement to sell its stake in Moy Park to Pilgrim's Pride Corporation for about 790 million pounds. Moy Park was valued at 1 billion pounds (US$ 1.3 billion). The transaction was unanimously approved by a special committee of Pilgrim's board of directors and JBS board. According to the Brazilian company, the proceeds from the operation will be used to amortize short-term debt in Brazil, improving its debt profile and liquidity. JBS, which is Pilgrim's largest shareholder, said the divestment would allow it to maintain sound financial performance with diversified assets in line with its intent to open the capital of one of its subsidiaries in the United States. The Brazilian company further stated that the transaction would create a more efficient corporate structure and that "Pilgrim's leadership is poised to extract even more value from Moy Par..
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