J&F and BNDES Reach Agreement for JBS Dual Listing

JBS announced this Monday (17) that it has been informed that J&F Investimentos, its controlling shareholder, and BNDESPar have signed an agreement regarding the Dual Listing of the Company’s shares in Brazil and the United States.

BNDESPar, the investment arm of BNDES, holds 20.8% of JBS’s capital. Under the signed instrument, BNDESPar may receive a conditional remuneration of up to R$ 500 million if JBS shares appreciate below a threshold established between the parties.

With the dual listing, JBS shares will be traded on the New York Stock Exchange (NYSE) in the United States and on B3 S.A. – Brasil, Bolsa, Balcão (B3) in Brazil. The proposal will strengthen the company’s governance and has the potential to unlock share value and attract a broader investor base with greater investment capacity.

BNDESPar also informed JBS that, as a result of the agreement, it will abstain from voting at the shareholders’ meeting that will decide on JBS’s Dual Listing, leaving the decision to the remaining minority shareholders.

JBS is one of the world’s largest food companies, with a diversified protein and geographic platform. With more than 250 production plants, JBS operates in 17 countries, serves over 300,000 customers, and its products reach more than 180 countries. Founded in Brazil 71 years ago, JBS currently employs 280,000 people.

• Dual Listing
• Institucional