Friboi may buy Independência.
A group led by Joesley Batista is considering acquiring the assets of the São Paulo-based meatpacking company, which has debts of R$ 1 billion.
247 - JBS Friboi, the world's largest animal protein group, may acquire the assets of Independência, a São Paulo-based meatpacking company that went bankrupt and left debts of over R$ 1 billion. Friboi's offer, led by businessman Joesley Batista, would be close to R$ 270 million, according to information from the newspaper Valor Econômico.
This year, JBS Friboi has already increased its cattle slaughtering capacity by 10%. It appears that the offer for Independência does not include the assumption of Independência's debts, one of whose main creditors is BNDES.
According to data from Scot Consultoria, the JBS Friboi group owns 16% of the cattle slaughtering capacity in Brazil, followed by the Marfrig group, owned by businessman Marcos Molina, with 7,2%.