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JBS Approves Issuing ADRs in U.S.

JBS S.A. announced Monday that its board of directors has approved an American Depository Receipt (ADR) program that will allow investors in the U.S. to acquire JBS stock by buying ADRs.

JBS noted that considering its relevant involvement in the U.S. market and the company's "larger community of contributors, suppliers and clients, this step represents an opportunity to increase the liquidity, visibility and value of JBS shares."

JBS, headquartered in Sao Paulo, Brazil, is the largest beef processor and exporter in the world and owns JBS USA, the former Swift & Co. The company also has agreements to acquire National Beef Packing Co. and the beef division of Smithfield Foods Inc. once the acquisition proposals clear regulatory review. Combined with JBS USA, the acquisitions would make JBS the largest beef processor in the U.S.

Source: Feedstuffs