BNDES expected to sell JBS stake soon

The Brazilian Development Bank (BNDES) is mulling over the sale of shares in some companies, and its stake in JBS may be one of the candidates for divestment, the bank’s director of privatization, Leonardo Cabral, says. The BNDES had started a process to sell JBS, but as the stock price fell, the bank backed off. Now, as the share is around R$ 35, after significant highs in the year, the bank is reassessing this possibility. BNDES is JBS’s biggest shareholder, with 23.16% of the capital.

Source: Valor international