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Brazil's BNDES seeks JBS assembly without 'conflicts of interest'
September 1, 2017 / 5:54 PM / 24 days ago

Brazil's BNDES seeks JBS assembly without 'conflicts of interest'

RIO DE JANEIRO, Sept 1 (Reuters) - The No. 2 shareholder in JBS SA wants the Brazilian meatpacker’s controlling family to reconsider participating in a ballot that could remove Chief Executive Officer and family member Wesley Batista, by acknowledging the existence of a “conflict of interest.”

Executives at state development bank BNDES said that a ruling suspending a Friday shareholder meeting for 15 days goes in line with the lender’s goals as an owner of 21 percent of JBS.

JBS SA had to halt the meeting to decide the fate of Batista after his family, which owns 42 percent of the meatpacker’s capital, won a legal injunction that may draw out a dispute with other shareholders. (Reporting by Rodrigo Viga Gaier; Writing by Guillermo Parra-Bernal)

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