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Brazil rural society tells BNDES to push for Batistas ouster from JBS
May 26, 2017 / 7:47 PM / 6 months ago

Brazil rural society tells BNDES to push for Batistas ouster from JBS

SAO PAULO (Reuters) - The powerful Brazilian Rural Society group said on Friday it had sent a letter to development bank BNDES demanding the ouster of the Batista brothers from the board of meatpacker JBS SA (JBSS3.SA) following a corruption scandal involving the family that founded and runs the company.

FILE PHOTO - General view of Brazilian meatpacker JBS SA in the city of Lapa, Parana state, Brazil, March 21, 2017. REUTERS/Ueslei Marcelino/File Photo

In the letter sent by Rural Society head Frederico d‘Avila, the society argued that BNDES Participações SA, equity arm of the bank and JBS’s second largest shareholder, should increase pressure to force Joesley and Wesley Batista, respectively chairman and chief executive, to step down.

The Rural Society was set up in 1919 as an industry group to represent the interest of farmers.

Reporting by Roberto Samora; Writing by Ana Mano; Editing by Sandra Maler

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