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CORRECTED-Brazil's JBS unveils $1.8 bln divestment plan to reduce leverage
June 20, 2017 / 1:30 PM / 3 months ago

CORRECTED-Brazil's JBS unveils $1.8 bln divestment plan to reduce leverage

(Corrects headline and first paragraph to reflect divestment plan valued at 6 billion reais, not $6 billion)

SAO PAULO, June 20 (Reuters) - Brazilian meatpacker JBS said on Tuesday it planned to raise around 6 billion reais ($1.8 billion) with a divestment plan to help it cut debt and reduce leverage.

JBS, whose controlling shareholder recently agreed to pay the world’s largest leniency fine, said the plan presented to its board includes stakes in dairy company Vigor Alimentos SA, its Northern Ireland unit Moy Park and U.S.-focused Five Rivers Cattle Feeding.

$1 = 3.2996 reais Reporting by Silvio Cascione; Editing by Daniel Flynn

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