May 24, 2017 / 10:15 PM / a year ago

Brazil prosecutors reject J&F leniency deal fine counterproposal

BRASILIA, May 24 (Reuters) - J&F Investimentos SA, controlling shareholder of Brazilian meat processor JBS SA , proposed paying a 4 billion reais ($1.22 billion) fine as part of a leniency deal to settle bribery and corruption charges, but prosecutors rejected the offer, a representative of the public prosecutors’ office said on Wednesday.

Prosecutors had initially sought a fine amount of 11.2 billion reais over 10 years. J&F, controlled by billionaire brothers Joesley and Wesley Batista, had initially offered to pay just 1 billion reais.

The prosecutor’s office said talks with JBS Chief Executive Officer Wesley Batista were continuing. ($1 = 3.2755 Brazilian reais) (Reporting by Leonardo Goy; Writing by Christian Plumb; Editing by Sandra Maler)

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