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3 months ago
Brazil prosecutors say reach 'impasse' over size of fine in JBS deal
May 19, 2017 / 6:54 PM / 3 months ago

Brazil prosecutors say reach 'impasse' over size of fine in JBS deal

NEW YORK (Reuters) - Brazilian prosecutors said on Friday that they had reached an "impasse" in talks with the parent company of meatpacking giant JBS SA (JBSS3.SA) over the size of the fine it would pay as part of a leniency deal under negotiation since February.

The prosecutors said in a statement that they are seeking a fine of 11.169 billion reais (2.63 billion pounds) over a 10-year period, while JBS' parent, J&F Investimentos, is seeking a payment of 1 billion reais. The public prosecutor's office said its proposal would expire if it is not accepted by midnight on Friday.

Reporting by Christian Plumb; Editing by Alonso Soto and Daniel Flynn

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