JBS Takeover of Tasman Approved

AUSTRALIA - Brazilian beef processing giant, JBS Friboi, has been given the go ahead to proceed with its takeover of the Tasman Group in Australia.
calendar icon 25 April 2008
clock icon 1 minute read

The Australian Competition and Consumer Commission has given its approval to the deal worth about $150 million.

The takeover is expected to be completed by the beginning of May.

JBS put in its bid to buy the Tasman Group in March at the same time it made bids for the beef sector of the Smithfield Foods Group in the US and National Beef in the US.

JBS still has to receive the approval from the US authorities for these takeovers.

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