Brazilian reporters claim JBS SA has been buying cattle from ranches grazing cattle on deforested land in the Amazon, a practice forbidden by the Brazilian government.
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The billionaire Batista brothers۪ involvement in insider trading and bribery of politicians is causing turmoil in Brazil.
JBS’s founders are known for both big business and scandals.
Minerva SA, Brazil’s fourth-largest listed meat company by sales, expects the country will resume fresh beef exports to the United States in the first quarter of 2018.
Joesley Batista, one of the controlling owners of JBS SA, was arrested again as part of an ongoing investigation into Brazilian corruption.
Marfrig Global Foods SA bonds and shares soared after JBS SA agreed to buy its unit in the U.K. for about $1.5 billion to extend its push into processed foods.
Federal Police in Brazil announced indictments in a vast corruption scheme at meat processing facilities.