June 1, 2017 / 9:01 PM / a year ago

Brazil's development bank says shareholders who 'messed up' must leave companies

RIO DE JANEIRO, June 1 (Reuters) - The chief executive officer of Brazil’s development bank BNDES said on Thursday that controlling shareholders in companies in which the bank has investments must leave if it is found they are involved in any corruption schemes.

Paulo Rabello de Castro did not name the world’s largest meatpacker, JBS SA, in which the bank’s investment arm BNDESPar has a 21 percent stake and whose owners admitted to bribing almost 1,900 politicians. “We have to push out controlling shareholders of big companies who messed up,” he told journalists before his swearing-in ceremony. (Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer; Editing by Sandra Maler)

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