EU approves Brazilian meat takeover

European Union regulatory approval has been granted for two Brazilian financial groups to take over major Brazil meat companies JBS SA and Bertin SA.

The European Commission gave competition law clearance for the purchase by J&F Participações SA (J&F) and ZMF Fundo de Investimento em Participações (ZMF). They would have joint control over JBS and Bertin – global players in the meat processing business, who especially sell produce, process and sell fresh beef (and other meat products) in Brazil and elsewhere worldwide, including Europe.

The Commission did not attach any conditions to the takeover. It has jurisdiction because of JBS’ and Bertin’s exports to the EU.