JBS suspends US public offering effort

JBS USA Holdings, Inc., a division of Brazil's JBS SA, has suspended its initial public offering (IPO).

The company said it is still analysing the prospects of an IPO in the US, but the company had decided it was best to suspend the effort until a later date following the December 2009 acquisition of Pilgrim's Pride Corp., Pittsburg, Texas.

In late July 2009, JBS USA filed for an IPO of up to US$2 billion. An outline of the IPO did not provide a timeline for pricing. The company said at the time that it planned to use the proceeds from the IPO to expand its direct distribution programmes.