SAO PAULO May 30 A negotiation aimed at a
leniency agreement between J&F Investimentos and federal
prosecutors has reached an impasse, which will lead the law firm
representing the company to quit the case, Valor Econômico said
in its Tuesday edition.
J&F is the parent company of the world's largest meatpacker
JBS SA, whose top executives admitted to bribing
politicians in exchange for political favors in a scandal that
threatens to topple President Michel Temer.
Brazilian federal prosecutors on Sunday made a new offer to
JBS SA's controlling shareholder involving payment of a 10.99
billion reais ($3.37 billion) fine for its role in massive
The company's last known offer to cover the fine was 8
billion reais, and no agreement has been reached.
The differences over the size of the fine will cause Trench,
Rossi e Watanabe, the firm representing J&F in the talks, to
step down from the case, Valor said without naming any sources.
The announcement that the lawyers will step down is likely
to occur on Tuesday, Valor said.
Press representatives for J&F, JBS and Trench, Rossi e
Watanabe did not have an immediate comment.
According to allegations made by the family that controls
J&F, President Temer is accused of endorsing the alleged bribery
of a potential witness in a corruption probe implicating scores
($1 = 3.2564 reais)
(Reporting by Ana Mano; Editing by W Simon)