November 6, 2018 / 5:19 PM / a month ago

JBS signs up to $1.5 bln deal with Alibaba to sell protein in China

BRASILIA, Nov 6 (Reuters) - JBS SA, the world’s largest meatpacker, has signed a 3-year agreement with China’s Alibaba Group Holding Co worth up to $1.5 billion to sell animal protein in China, according to a securities filing on Tuesday.

The deal will allow JBS to expand both in the business-to-business and business-to-consumer segments, the filing said, particularly in livestock. (Reporting by Bruno Federowski Editing by Chizu Nomiyama)

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