May 16, 2017 / 1:37 PM / a year ago

JBS keeps U.S. listing plans after loans probe, CEO says

SAO PAULO, May 16 (Reuters) - JBS SA, the world’s largest meatpacker, will maintain plans to list its U.S. subsidiary in the second half of the year despite a police investigation into potentially fraudulent loans, Chief Executive Wesley Batista said on Tuesday.

A court last week ruled that the CEO and his brother Joesley Batista, currently JBS chairman, cannot make major changes to the company until the end of the probe.

In a conference call, Wesley said the decision did not obstruct the initial public offering (IPO), acquisitions or divestment plans, only transactions that alter the company’s controlling shareholder structure. (Reporting by Paula Laier; Writing by Bruno Federowski; Editing by Daniel Flynn)

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