Brazil's JBS: US Justice Dept OKs Purchase Of Pilgrim's Pride
RIO DE JANEIRO -(Dow Jones)- The world's largest beef producer's, Brazil's JBS
SA (JBSAY, JBSS3.BR), takeover of Pilgrim's Pride Corp (PGPDQ) has been approved
by the U.S. Department of Justice, the company said in a filing Wednesday, with
the Brazilian Securities and Exchange commission, or CVM.
JBS recently agreed to pay $800 million to buy a 64% stake in the Texas
chicken company.
As a result of the ruling, JBS now has the right to act in the chicken
segment, the company said in a statement.
- By John Kolodziejski, Dow Jones Newswires; 55-21-2586-6086;
John.Kolodziejski@dowjones.com
(END) Dow Jones Newswires
10-14-091802ET
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