JBS SA, the world's largest meatpacker, is resuming a plan to raise 4 billion reais ($1.8 billion) from the initial public offering of its pork, poultry and food-processing operations in Brazil as early as next month, a source with direct knowledge of the deal said on Wednesday.
São Paulo-based JBS put off the deal in June, when slumping confidence drove potential investors away from Brazil, sources told Reuters at the time. JBS and banks want to kick off investor meetings in New York and other cities next week, said the source, who sought anonymity since the deal is in the works.
The transaction could be priced after the second half of October, between the first and second rounds of Brazil's presidential election, the source added. In recent weeks, cellphone tower operator T4U Holding Brasil SA and vet product maker Ouro Fino Saúde Animal Participações SA filed for IPOs, as demand for Brazil issues gain traction amid speculation that market-friendly candidates could win the election.
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