Brazil's JBS To Reorganize Business To Speed Up Global Expansion

JBS SA proposed on Wednesday a thorough corporate reorganization entailing the creation of a company grouping international operations outside Brazil, the latest step by the world's largest meatpacker to develop into a global food player.

Under terms of the plan, São Paulo-based JBS SA will create JBS Foods International, an Ireland-based company whose assets will encompass global operations and those of Brazil-based food processor Seara Alimentos, Chief Executive Officer Wesley Batista said in an interview.

The plan, which calls for JBS Foods International to be listed in New York, requires shareholder and regulatory approval, and could be finalized by November, he said. The group's business will continue to be run from Brazil, he added.

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