J&F and BNDES reach agreement for dual listing of JBS shares in São Paulo and New York.
With this, the company owned by brothers Wesley and Joesley Batista will have a broader investor base and greater potential for appreciation.
247 - JBS announced on Monday (17) that it had been informed that J&F Investimentos, its controlling shareholder, and BNDESPar had signed an agreement within the scope of the Dual Listing of the Company's shares in Brazil and the United States.
BNDESPar, the equity investment arm of BNDES, owns 20,8% of JBS's capital. According to the signed agreement, BNDESPar may receive a potential remuneration limited to R$ 500 million if JBS's share price appreciates below a level established between the parties.
With the dual listing, JBS shares will be traded on the New York Stock Exchange (NYSE) in the United States and on the B3 SA - Brasil, Bolsa, Balcão (B3) in Brazil. The proposal will strengthen the company's governance and has the potential to unlock the value of the share and attract a broader base of investors with greater investment capacity.
BNDESPar also informed JBS that, as a result of the agreement, it will abstain from voting in the shareholders' meeting that will deliberate on the JBS Dual Listing, thus leaving the decision to the other minority shareholders.
JBS is among the world's largest food companies with a diversified protein and geographic platform. With over 250 factories, JBS produces in 17 countries, has more than 300 customers, and its products reach over 180 countries. Founded in Brazil 71 years ago, JBS currently employs 280 people.
