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JBS SA, the world’s biggest beef producer, may turn its $7.1 billion Pilgrim’s Pride unit into the parent of U.S. operations in a so-called reverse merger after postponing an initial public offering of JBS USA, chief executive Joesley Batista said.
“I would prefer to do the IPO of the U.S. unit, but a reverse merger of JBS USA and Pilgrim’s is possible,” Batista told reporters in São Paulo on Monday.
