JBS bids for plants owned by bankrupt Independencia SA

JBS placed a bid of roughly $133 million in cash plus stock to purchase six plants owned by a Brazilian meatpacker under bankruptcy protection.

The bid for four slaughterhouses, two tanneries and other assets owned by Independencia will total $142 million. Independencia has been under bankruptcy protection since 2009.

Bloomberg reports the bid does not include the assumption of debt.

The bid will be reviewed at the creditors’ next meeting on April 30. If accepted, the purchase marks the first large-scale acquisition by JBS after a long hiatus.

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