June 16, 2017 / 3:59 PM / a year ago

Mubadala not considering JBS stake bid, source says

ABU DHABI, June 16 (Reuters) - Abu Dhabi sovereign wealth fund Mubadala Development Co PJSC is not considering arranging partners to make a bid for control of JBS SA, the world’s largest meatpacker, a person with direct knowledge of the fund’s strategy said on Friday.

The person requested anonymity to speak freely about the issue. Earlier in the day, Brazilian financial magazine Exame said Mubadala, which has several logistics and infrastructure investments in Brazil, was forming a consortium “in complete secret” to buy the 42 percent controlling stake that Brazil’s billionaire Batista family has in JBS.

The media office of Mubadala declined to comment. (Reporting by Stanley Carvalho; Writing by Guillermo Parra-Bernal; Editing by Steve Orlofsky)

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