Although there are no confirmations, rumours from the Brazilian and international press argue that Cargill, the US Healthy Meat Group, presented a proposal to detect Pilgrim at JBS, a troubled South American multinational. JBS needs liquidity and the sale of Pilgrim, avian drug assets acquired in 2009 for $ 2.8 billion (2.4 billion euros at the current exchange rate), could take resources to cope with the time of difficulty. Concerning the solvency of the Batista brothers multinational, JBS has a small win. He renegotiated with the Brazilian banks the payment terms for $ 6.5 billion (5.5 billion euros), postponing them by 12 months. Meanwhile, the Shareholders’ Meeting (strongly demanded by the BNDES bank) is scheduled for September 1, which may mark José Batista Sobrinho’s exit from the multinational company he founded.
Brazil, JBS renegotiates debt with banks while Cargill thinks of a bid for Pilgrim
