JBS Clears Inalca Air

JBS Clears Inalca Air

Brazil Europe M&A

JBS’s sale of a 50% stake in joint venture Inalca to partner Cremonini for $304m clears up uncertainty about a put option but does not change the balance sheet, according to Brazil-based equity analysts. The sale price is the same amount JBS paid for it in 2008. Inalca, which represented less than 1% of JBS’ total revenues according to analysts. Inalca, which has been excluded from JBS financial statements for several quarters, is an Italian beef processing business. The stake had been a minor n

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