Commodities

BRF shares pare gains on report of potential JBS interest

Credit: REUTERS/PAULO WHITAKER

BRF shares pared early gains on Friday after O Globo columnist Lauro Jardim reported that meatpacker JBS was possibly interested in buying the Brazilian food processor.

Adds JBS comment, share move

SAO PAULO, June 11 (Reuters) - BRF BRFS3.SA shares pared early gains on Friday after O Globo columnist Lauro Jardim reported that meatpacker JBS JBSS3.SA was possibly interested in buying the Brazilian food processor.

BRF shares, which had risen up to 10% at the market opening, were up 2% almost one hour into the trading session, at 28.50 reais. JBS told Reuters it does not comment on "speculation" after the report in the O Globo newspaper.

Rival meatpacker Marfrig Global Foods MRFG3.SA announced last week it reached a 31% stake in BRF and has informed Brazilian antitrust watchdog CADE of the deal..

Although Marfrig has become the largest shareholder in BRF, the company has insisted it will not take over its rival and will be a passive investor.

(Reporting by Tatiana Bautzer and Paula Laier; Editing by Alexander Smith)

((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob: +55-119-4210-4173; Reuters Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Commodities Videos

    Where the Opportunities Are With Commodity Prices Coming in a Bit

    MarketGauge Partner & Director of Trading of Research & Education Mish Schneider discusses where the opportunities are with commodity prices coming in a bit.

    Jul 13, 2021

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More