DJ Brazil Meatpacker
JBS Kicks Off Banking Operations
Agriculture Online
7:27 AM, July 18, 2008
beef exporter Friboi,
late Thursday announced the start of operations at its
new banking unit, called JBS Banco.
JBS Banco will start its operations with an initial capital of
30 million
Brazilian reals
($18.75 million). It will offer financing for the acquisition
of cattle and for industrial
activities associated with the meatpacking
industry.
On Thursday, JBS's shares closed down 1.86% at BRL9.10 on the Sao Paulo
Stock
Exchange, the Bovespa.
-By Rogerio Jelmayer, Dow Jones
Newswires
agriculture.com