JBJ Agropecuária, the cattle company controlled by José Batista Júnior (Júnior Friboi), has withdrawn from its planned acquisition of Fazenda Conforto, one of JBS’s largest cattle suppliers in Brazil. The decision was jointly communicated by both parties to Brazil’s Administrative Council for Economic Defense (Cade), bringing months of negotiations to an end.
According to documents submitted to the regulator, the companies mutually agreed to abandon the transaction. While no official reason was disclosed, AgFeed reported that the decision was linked to Cade’s determination to review the deal under its ordinary procedure, which is longer and subject to a more detailed analysis, rather than through the simplified process requested by the parties.
The transaction involved the acquisition of all assets of Fazenda Conforto, located in Nova Crixás, in the state of Goiás. The property comprises approximately 12,000 hectares, has a static capacity of 76,000 cattle and an annual turnover of around 175,000 head. In addition to backgrounding, finishing and feedlot operations, the farm also conducts agricultural activities, including soybean production.
After assessing the regulatory process and the uncertainty surrounding potential timelines and conditions imposed by Cade, shareholders of both companies decided to continue operating independently.
JBJ Agropecuária is part of Grupo JBJ, which is active in cattle production, crop farming, animal feed inputs, genetics, slaughter operations and meat marketing.
Source: Globo Rural
