July 22, 2020 |
Brazilian logistics company JSL said Tuesday that it approved a corporate restructuring that will separate its activities into new companies and merged with its controlling shareholder Simpar ahead of an initial public offering (IPO).
JSL will keep its branding and focus on logistics services after the reorganization, which will "create new possibilities" for mergers and acquisitions and access to the capital markets, the company said in a securities filing.
Simpar is owned by the Simões family
Brazilian logistics company says the new structure paves the way for an IPO and M&A possibilities