JBS USA suspends i.p.o. effort
January 29, 2010
by Keith Nunes
GREELEY, COLO. – JBS USA Holdings, Inc., a division of JBS S.A., Sao Paulo, Brazil, has suspended its initial public offering (i.p.o.). The company said it still was analyzing the prospects of doing an i.p.o. in the U.S., but following the December 2009 acquisition of Pilgrim’s Pride Corp., Pittsburg, Texas, the company determined it was best to suspend the effort until a later date.
In late July 2009, JBS USA filed for an i.p.o. of up to $2 billion. An outline of the i.p.o. did not provide a timeline for pricing. The company said at the time that it planned to use the proceeds from the i.p.o. to expand its direct distribution programs.