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    JBSS3   BRJBSSACNOR8

JBS S.A.

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JBS S A : Australian watchdog says JBS' deal for Rivalea raises competition concerns

09/15/2021 | 11:29pm EDT
FILE PHOTO: The logo of Brazilian meatpacker JBS SA is seen in the unit   in the city of Jundiai

(Reuters) - Australia's competition regulator on Thursday raised concerns over meatpacker JBS SA's proposed A$175 million ($128.3 million) acquisition of pork processor Rivalea.

Brazil's JBS in June announced an agreement to buy Rivalea from Singapore-listed QAF Ltd in a deal that would make it Australia's market leader in pork processing.

If the deal proceeds, JBS will have a significant presence in pig farming, export-accredited pig abattoirs, and related products through its Primo Smallgoods brand, the Australian Competition and Consumer Commission (ACCC) said https://www.accc.gov.au/media-release/jbs-proposed-acquisition-of-rivalea-raises-preliminary-competition-concerns?utm_source=twitter_accc&utm_medium=social&utm_campaign=p_tru_g_awa_c_mergers_jbs_rivalea.

"Our concern is not limited to JBS potentially denying access to processing facilities, it's also about the price and terms on which access would be provided," ACCC Deputy Chair Mick Keogh said.

The regulator also raised concerns that after the deal, JBS may raise the price of fresh pork or reduce the supply of pork to some producers from Rivalea's Diamond Valley Pork abattoir.

"The ACCC's preliminary view is that while JBS and Rivalea do not compete closely, the proposed acquisition may give rise to vertical integration concerns," Keogh added.

JBS, QAF and Rivalea did not immediately respond to requests for comment.

($1 = 1.3646 Australian dollars)

(Reporting by Tejaswi Marthi in Bengaluru; Additional reporting by Riya Sharma; Editing by Shounak Dasgupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
JBS S.A. 1.37% 38.51 End-of-day quote.62.76%
QAF LIMITED -1.14% 0.865 End-of-day quote.-4.42%
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Analyst Recommendations on JBS S.A.
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Financials
Sales 2021 320 B 58 158 M 58 158 M
Net income 2021 12 904 M 2 344 M 2 344 M
Net Debt 2021 47 071 M 8 551 M 8 551 M
P/E ratio 2021 7,33x
Yield 2021 3,65%
Capitalization 96 696 M 17 503 M 17 566 M
EV / Sales 2021 0,45x
EV / Sales 2022 0,43x
Nbr of Employees 250 000
Free-Float 32,6%
Chart JBS S.A.
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JBS S.A. Technical Analysis Chart | JBSS3 | BRJBSSACNOR8 | MarketScreener
Technical analysis trends JBS S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 13
Last Close Price 38,51 BRL
Average target price 45,08 BRL
Spread / Average Target 17,1%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial & Investor Relations Officer
Jeremiah Alphonsus O'Callaghan Chairman
Eliseo Santiago Perez Fernandez Director-Administration & Control
Gilberto Meirelles Xandó Baptista Independent Director
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