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Joesley Batista (Photo: Adriano Machado / Reuters)
More Even with a bad reputation, the group managed to protect its business and increase the company's sales. To contain the crisis and avoid the bursting of the family empire, Joesley and Wesley left the board of directors of JBS and other companies under the control of the J & R Holding Company. F in May 2017. Since then, they have negotiated directly with banks and investors in order to divest part of their business to earn money and thus avoid the anticipated recovery of debts of about 20 billion euros. R $ expiring until 2020.
Between May and August of last year. Mercosul (for Minerva) and Alpargatas (for Itaúsa) were sold refrigerators. The following month, the brothers sold Eldorado Celulose (for Paper Excellence) and Vigor (for Mexican Lala). During the arrest of the two brothers last September, Jose Batista Sobrinho, Zé Mineiro, father and founder of JBS, returned to the command of the company, with the support of BNDES, its main partner, with 21.3% of the activities . Zé Mineiro's grandchildren – Wesley Batista Filho and Aguinaldo Gomes Ramos – have also joined the board of directors of the company. Joesley was jailed for six months and his brother for five months.
Banks heard the state claim that several investors had attempted to buy Batista's membership in JBS, but the brothers had refused to sell any or all of their shares, even with strong price offered by the roles.
Joesley, Wesley and two executives who donated – Francisco de Assis and Ricardo Saud – will be heard by Minister Edson Fachin of the Federal Supreme Court (STF) at the defendants' defense. The Minister will decide whether or not to abide by the Attorney General's (PGR) decision to nullify the effects of the allegations, as the JBS owners allegedly hid the so-called instructions of former Attorney Marcello Miller to J & F in the negotiations, while Miller was part of the prosecution.
While the JBS controllers try to keep the hearings behind closed doors with the Attorney General's office, the company's management has again planned to resume acquisitions and open up the company's capital.
JBS in the United States. After selling several debt-reducing badets over the last 18 months, the company has made a new badysis of badets to buy, but the acquisitions this time will be complementary to its business segments. The US company Pilgrim & # 39; s, controlled by JBS, is among the companies interested in BRF badets in Europe and Thailand. According to sources, Guilherme Cavalcanti, Financial Director and Head of Investor Relations at Fibria, is interviewed by the group to lead the initial public offering of JBS savings.
With revenues of 163.2 billion rand last year, badysts at JBS revenue are expected to end this year at about 200 billion rubles. In the third quarter, the group recorded a net loss of $ 133.5 million R, against a profit of $ 323 R between July and September of last year. Sales during the same period increased by 20.1%, driven by the resumption of operations in Brazil. This decline reflects the currency effects and JBS's adherence to a tax incentive program. Leandro Fontanesi, an badyst at Bradesco BBI, said JBS 'strong operating performance in Brazil and the United States, which accounts for more than 50 percent of the group's sales, boosted JBS's shares. This is not the case of the giant BRF, owner of Sadia and Perdigão, who changed direction in May with the arrival of Pedro Parente, but who still displays poor operational results.
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