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JBS inches closer to U.S. listing as state shareholder abstains from key vote
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JBS inches closer to U.S. listing as state shareholder abstains from key vote
Mar 17, 2025 2:24 PM

SAO PAULO, March 17 (Reuters) - The controlling

shareholder of Brazilian meatpacker JBS and government

investment vehicle BNDESPar, its second largest shareholder,

have inked a deal that puts the company closer to listing its

shares in both the United States and Brazil.

In a securities filing released on Monday, JBS

said BNDESPar agreed to "abstain" from voting at an upcoming

meeting to discuss the proposed dual listing, leaving the final

decision to other minority shareholders.

J&F Investimentos, a holding company run by the JBS'

founding Batista family and the company's controlling

shareholder, will not have a right to vote on the proposal at

the JBS shareholder meeting, said BNDESPar, the investment arm

of Brazil's state development bank BNDES, in a separate

statement confirming the arrangement.

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