May 30, 2017 / 4:22 PM / a year ago

UPDATE 1-Brazil J&F leniency talks impasse lead lawyers to quit

(Adds J&F and law firm confirmations, background)

SAO PAULO, May 30 (Reuters) - A negotiation aimed at a leniency agreement between J&F Investimentos SA and federal prosecutors has reached an impasse, which led the law firm representing the company to exit the case, according to a J&F statement sent to Reuters on Tuesday.

J&F is the parent company of the world’s largest meatpacker JBS SA. Two of its leading shareholders admitted to bribing politicians and unleashed a political crisis in Brazil with a plea bargain deal that accused Temer of endorsing the bribing of a potential witness.

Earlier in the day, the law firm Trench, Rossi e Watanabe confirmed the firm was stepping down from the talks, without giving a reason.

Bottini & Tamasauskas Advogados has been hired to handle the leniency talks, J&F said in an emailed statement.

Brazilian federal prosecutors on Sunday made a new offer to J&F that it pay a 10.99 billion reais ($3.37 billion) fine for its role in massive corruption scandals.

Federal prosecutors said in a statement that company’s last offer was to pay 8 billion reais.

The case involves brothers Joesley and Wesley Batista, among the top shareholders in JBS. Joesley Batista stepped down last week as chairman of the company and left the board.

$1 = 3.2564 reais Reporting by Ana Mano; Editing by W Simon

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