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JBS S.A. initiates process to become a privately held company in Brazil
JBS S.A. has officially begun the process to cancel its Category A securities issuer registration with the Brazilian Securities and Exchange Commission (CVM). This move, approved during an Extraordinary General Meeting, aims to transition the company into a privately held corporation in Brazil.
Under a dual-listing structure, the Netherlands-based JBS N.V. will serve as the group's controlling entity and listed issuer. This allows JBS to maintain its presence on international markets, such as the NYSE, while JBS S.A. operates as a wholly-owned subsidiary. Following the registration change, the trading of certain debentures will be restricted to professional investors.
Simultaneously, the Batista family's holding company, J&F S.A., has applied for Category B registration with the CVM. Unlike Category A, Category B does not allow for the trading of shares but enables the group to access capital markets through debt instruments, such as debentures and commercial notes. This dual maneuver is part of a broader corporate restructuring initiated by the group in February.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Upon approval, the Brazilian company will become a privately held corporation. www.cnnbrasil.com.br · globorural.globo.com
- [● 2 SOURCES] Category B registration allows J&F to access capital markets through debt instruments without issuing shares. bpmoney.com.br · www.seudinheiro.com
- [○ 1 SOURCE] Trading of the company's debentures will be restricted to professional investors following the registration change. www.cnnbrasil.com.br
- [○ 1 SOURCE] JBS N.V., based in the Netherlands, has become the group's controlling entity and listed issuer. www.cnnbrasil.com.br
- [○ 1 SOURCE] The decision to cancel the registration was approved during an Extraordinary General Meeting on Monday (21st). www.cnnbrasil.com.br
- [● 3 SOURCES] J&F has requested registration as a Category B public company with the CVM. bpmoney.com.br · globorural.globo.com · www.seudinheiro.com
- [● 3 SOURCES] JBS S.A. has initiated the process to cancel its Category A securities issuer registration with the CVM. www.cnnbrasil.com.br · globorural.globo.com · www.seudinheiro.com