Rio de Janeiro | Reuters –– Brazilian meatpacker JBS SA said on Friday it was cancelling an initial public offering of its processed food unit JBS Foods due to unfavourable market conditions.
This is the fourth time JBS, the world’s largest meatpacker, suspended plans for the IPO of JBS Foods.
JBS said in a statement it would let shareholders and markets know when it “identifies favourable conditions to access the capital market” in Brazil and elsewhere.
— Reporting for Reuters by Juliana Schincariol, writing by Walter Brandimarte. Includes files from AGCanada.com Network staff.