RIO DE JANEIRO—Brazil's JBS SA, the world's largest meat
processor, said Monday it has received a commitment for up to $1.2
billion of long-term financing to be used with cash on hand to pay
for the acquisition of Cargill Inc.'s pork business in the U.S.
Earlier this month, JBS said its U.S. subsidiary Swift Pork Co.
signed an agreement to buy its competitor's pork businesses for
$1.45 billion.
In a statement, JBS said that the financial institutions
providing the commitment are Credit Suisse AG, Bank of America
Merrill Lynch and Rabobank Nederland.
Combined with Cargill's pork operations, JBS's U.S. pork
businesses would have sales of around $6.3 billion and the capacity
to process a total of 89,300 animals a day. Those figures would put
it behind only Smithfield Foods Inc. in the pork segment in the
U.S.
Write to Luciana Magalhaes at Luciana.Magalhaes@dowjones.com
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