May 3, 2011
 

JBS-Bertin deal is agreed by Brazilian ministry

JBS SA formally declared that the Ministry of Justice's Secretariat of Economic Monitoring (SEAE/MF) gave a summary of a statement concerning the Concentration Act number 08012.008074/2009-11, which focuses on the connection between JBS and Bertin SA, hinting agreement to the transaction.

The transaction is subject to the sale of a slaughterhouse in the states of Goiás and Minas Gerais equivalent to Bertin's market share in these states prior to the transaction.

SEAE/MF's opinion, however, is a non-binding document and the conclusions cannot necessarily be considered as an indicative of the final decision to be issued by the Administrative Council for Economic Defense (CADE), the organisation that will be responsible for the final decision regarding the anti-competitive aspects of the referred transaction.

JBS executives believe the transaction does not violate antitrust laws in such states and will continue to actively cooperate with the responsible authorities to have the transaction approved.