DENVER BUSINESS JOURNAL - JBS SA -- the world’s largest meat packer, whose U.S. division is based in Greeley -- is offering for sale assets of its subsidiary, Greeley-based JBS Five Rivers Cattle Feeding LLC, the world’s largest cattle feeding operation.
The announcement today is part of a larger divestment plan that the company hopes will raise $1.8 billion to cut debt and reduce leverage, Reuters reported.
The for-sale announcement comes days after a Brazilian-based holding company, J&F Investimentos, which controls JBS and a host of other Brazilian businesses, said it would pay 10.3 billion reais ($3.2 billion) over 25 years after admitting to giving roughly $150 million — mostly in bribes — to Brazilian politicians, according to the Wall Street Journal.
The chairman of JBS SA in May admitted making illegal payments totaling millions of dollars to the current president of Brazil and two former presidents.
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