JBS S.A. announced this week that it will delay its initial public offering of $2 billion of stock in JBS USA until after it can incorporate recent acquisitions into its 2009 financial report and that it will continue to monitor stock market conditions to determine the timing.
JBS announced the offering last year (Feedstuffs, Aug. 3, 2009) to raise capital for expansion but delayed that until early this year to complete its acquisition of Pilgrim's Pride Corp. JBS USA holds JBS's interests in U.S. beef and pork processing and Pilgrim's Pride.
JBS, headquartered in Sao Paulo, Brazil, is the largest beef processor in the world and projects 2010 sales to total almost $30 billion.
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