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.