JBS sells UK food business

JBS sells UK food business

Brazil M&A

Brazil's JBS said it has sold its UK food business Moy Park to its US poultry subsidiary Pilgrim's Pride for £1bn ($1.32bn).JBS will use roughly 80% of the proceeds from the sale to pay off short-term debt in Brazil, based on an agreement it made with lenders in July."The transaction will allow the company to maintain a strong financial performance, with diversified assets and an innovative product portfolio that further supports its intention to seek a public listing in the

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