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Exclusive: Brazil's JBS and controlling family engage Bradesco on asset sale plan - sources

Published 05/23/2017, 04:23 PM
Updated 05/23/2017, 04:30 PM
© Reuters. FILE PHOTO -  General view of Brazilian meatpacker JBS SA in the city of Lapa
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By Tatiana Bautzer and Guillermo Parra-Bernal

SAO PAULO (Reuters) - JBS SA (SA:JBSS3), the world's largest meatpacker, and its controlling family have engaged Banco Bradesco SA's investment banking unit to work on a plan to dispose of several assets in the wake of a corruption scandal in Brazil, three people with direct knowledge of the situation said on Tuesday.

© Reuters. FILE PHOTO -  General view of Brazilian meatpacker JBS SA in the city of Lapa

Members of Brazil's billionaire Batista family, which own about 42 percent of JBS, are looking for ways to raise cash after facing prosecutors' demands they pay an 11 billion-real fine ($3.4 billion) as part of a leniency deal that is still being negotiated, one of the people said.

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