BNDES hires banks for JBS share sale

BNDES hires banks for JBS share sale

M&A Equity Capital Markets Economy & Policy Brazil

Brazil's national development bank BNDES has hired five investment banks to arrange the sale of a stake in JBS, according to a securities filing from the São Paulo-based meatpacking company. BNDESPar, BNDES' investment division, has retained Bradesco BBI, BTG Pactual, Bank of America, Itaú BBA and UBS to lead the sale, but it is still discussing the size and the timing of the deal, JBS said. BNDESPar owns 21.3% of JBS, while J&F Investimentos has 40%. The company floats 36.4% of its shares o

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