JBS Foods International
Parent JBS S.A. | | |
JBS Foods International (JBSFI) engages in the food business internationally, and is the largest meatpacking company in the world.[3] It is a "controlled company" in SEC parlance. JBSFI operates through four segments: Beef, Pork, Poultry, and Other. It offers fresh and processed beef, lamb, sheep, pork, and chicken. JBSFI is the largest leather processor in the world.[4] It also processes collagen, biodiesel fuel, hygiene and cleaning products, and is involved in metal packaging, carriers, waste management, casings, and trading activities, as well as provides prepared food products.
Prior regulatory filings
On 5 August 2016 it was intended to be registered in the
On 16 November 2016, the DAC withdrew its IPO paperwork with the SEC.[5]
It substituted for its IPO on 6 December 2016 a Dutch operation called JBS Foods International B.V.[5]
Planned IPO and Investigations
In December 2016, JBS S.A. announced a re-organization plan, part of which involved planning an initial public offer in the United States for its international operations. The intended IPO is expected to be performed through the vehicle company JBS Foods International, because JBS S.A., J&F Investimentos and other companies of the group are involved in 6 different operations from the Brazilian Federal Police, including Operation Car Wash, Bullish, Greenfield, Carne Fraca and Cui Bono.
JBS S.A.'s main shareholders, Joesley Batista and Wesley Batista collaborated with the Brazilian police as whistle-blowers[6] for Operation Car Wash, where they confessed to over 12 years of crimes,[7] including bribery, active corruption, insider trading, and many other, which helped the JBS group to grow above the market after a series of acquisitions in part funded by loans from banks controlled by the state of Brazil.
Despite the active corruption scandals performed by the Batista brothers, Joesley Batista made it clear that the IPO was not going to be canceled.[8]
After the testimonies provided by the Bastista brothers, on May 19, 2017 Brazil's securities regulator launched four new probes against meatpacker JBS S.A. and other companies controlled by J&F Investimentos to investigate suspicious trades made before markets were rattled by the revelation of a plea deal by the company's top executives.[9]
Cyber attack
In late May 2021 JBS closed down some of its operations in the US, Canada and Australia due to a
See also
- JBS USA
- JBS SA
References
- ^ Drimble. "JBS Foods International B.V." (in Dutch). Retrieved 14 March 2018.
- ^ O Estado de S. Paulo. "JBS anuncia abertura de capital da JBS Foods International nos EUA" (in Portuguese). Retrieved 14 March 2018.
- ^ Lucas, Amelia (2021-06-02). "Cyberattack on meatpacker JBS could pressure restaurant margins if not resolved quickly, analysts say". CNBC. Retrieved 2021-06-03.
- ^ a b c d "Form F-1 REGISTRATION STATEMENT - JBS Foods International Designated Activity Company". UNITED STATES SECURITIES AND EXCHANGE COMMISSION. 5 August 2016.
- ^ a b "Form F-1 REGISTRATION STATEMENT - JBS Foods International B.V." UNITED STATES SECURITIES AND EXCHANGE COMMISSION. 6 December 2016.
- ^ Chairman of JBS USA’s parent admits illegal payments to 3 Brazilian presidents
- ^ Brazil Securities Regulator Opens Two New Investigations Against JBS
- ^ Brazil’s JBS Says Legal Issues May Delay IPO of International Unit
- ^ Brazil watchdog opens new probes into JBS-related insider trading
- ^ "JBS: FBI says Russia-linked group hacked meat supplier". BBC News. 2021-06-03. Retrieved 2021-06-03.
- ^ "JBS resumes most production after cyberattack". Associated Press. 2021-06-03. Retrieved 2021-06-03.