J&F Investments, JBS’s holding company, has signed an agreement to sell dairy company Vigor Alimentios SA to Mexico’s Grupo Lala SAB de CV for 2.7bn reais (€1.566bn).
J&F has been selling assets around the world to help fund the payment of 10.3bn reais (€2.78bn) fines imposed in a recent corruption scandal.
Companies sold recently include Havaianas flip-flop maker Alpargatas SA, which the group ceded to an investment firms of Brazil’s most prominent banking families for 3.5bn reais (€0.945bn) in July.
Dungannon, Co Tyrone-based poultry processor Moy Park and its 9,000 employees are also part of the divestment plan, even though JBS purchased the company just two years ago.
JBS sells South American businesses as corruption scandal escalates costs