BRASILIA - JBS SA, the world's largest meatpacker, said on Monday it had obtained a loan of up to $1.2 billion to pay for the acquisition of Cargill Inc's U.S. pork assets.
The loan has a maturity of seven years and interest rates equal to Libor plus 2.75 percent per annum, with a minimum Libor Rate of 0.75 percent, the company said in a statement.
SAO PAULO and CHICAGO - JBS SA, the world's largest meat packer, is buying Cargill Inc's U.S. pork business for $1.45 billion, free of debt, it said in a statement on Wednesday, a deal that would make it one of the largest and most powerful meat companies in the United States.
Russian farming conglomerate Rusagro is looking for an Asian co-investor in its pork production project in Russia's Primorye region to help it enter eastern markets, the company's chief executive told the Vedomosti newspaper.
CHICAGO - Ballooning supplies and tepid demand again pumped U.S. pork stocks to a record high in March while snowballing avian influenza cases landed more chicken in freezers, industry experts said following the government's monthly cold storage report on Wednesday.
For decades, Chuck Souder relied on corn and soybeans to keep his 400-acre Iowa farm running, but with corn selling for half its price two years ago and soybeans slumping, Souder has shifted to what he hopes will be a more profitable crop: Pigs.
Tyson Foods Inc., the nation’s second-largest pork producer, says it will require more humane animal treatment farmers that raise its pigs and keep a closer eye on all of its hog suppliers in North America.
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