Getting your player ready...
JBS SA has denied a Bloomberg report stating the company is considering spinning off Pilgrim’s Pride Corp. to keep Brazil’s state development bank from increasing its influence in the company, according to trade-magazine website .
JBS, based in São Paulo, is the world’s largest beef producer. JBS bought Greeley-based Swift & Co. in 2007, and the company’s U.S. headquarters is in Greeley.
In a statement, JBS said recent media reports regarding additional acquisitions were erroneous and specifically that Bloomberg’s report, headlined, “Brazil’s JBS Considers Spinning Off Pilgrim’s Pride to Limit BNDES Stake,” was “completely unfounded.”
JBS did not offer further comment.
