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    JBS SA announces that Pilgrim's Pride Corporation, a poultry company controlled by JBS, has completed a $200 million rights offering. The subscription rate for the offering was 94% and new shares will be issued on March 9th. As part of the offering, JBS USA Holdings exercised its rights in full to maintain a 68% ownership stake in Pilgrim's Pride. Pilgrim's Pride will use the $200 million in proceeds to strengthen its capital position and for general business needs.

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    JBS SA announces that Pilgrim's Pride Corporation, a poultry company controlled by JBS, has completed a $200 million rights offering. The subscription rate for the offering was 94% and new shares will be issued on March 9th. As part of the offering, JBS USA Holdings exercised its rights in full to maintain a 68% ownership stake in Pilgrim's Pride. Pilgrim's Pride will use the $200 million in proceeds to strengthen its capital position and for general business needs.

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    7 views1 page

    JBS Finalizes Pilgrim

    Uploaded by

    JBS RI
    JBS SA announces that Pilgrim's Pride Corporation, a poultry company controlled by JBS, has completed a $200 million rights offering. The subscription rate for the offering was 94% and new shares will be issued on March 9th. As part of the offering, JBS USA Holdings exercised its rights in full to maintain a 68% ownership stake in Pilgrim's Pride. Pilgrim's Pride will use the $200 million in proceeds to strengthen its capital position and for general business needs.

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    JBS Finalizes Pilgrims Pride Rights Offering

    JBS Finalizes Pilgrims Pride Rights Offering

    JBS SA (JBSS3) announces to its shareholders and to the market that Pilgrim's Pride Corporation (PPC), a Company listed on the New York Stock Exchange and controlled by JBS SA through its subsidiary, JBS USA Holdings Inc., completed the $200 million rights offering, as announced on December 08th 2011. The subscription ratio reached 94% and the new shares will be issued and available from March 9th, 2012, date of the annual shareholders meeting.

    In connection with the rights offering, JBS USA Holdings, Inc. exercised its basic and over-subscription rights in full, with their resulting ownership interest totaling 68% compared to 67.3% held previously.

    PPC wil receive $200 million of gross proceeds in connection with the offering, which will be used to improve the Companys capital position and to fund general operating requirements. "We are pleased with the participation rate in our offering exercised by our stockholders. There were oversubscription requests of 60% more than the shares we issued, which we believe signals confidence in the strategy we have implemented, stated Bill Lovette, Pilgrim's CEO.

    So Paulo, March 07th, 2012.

    Jeremiah OCallaghan Investor Relations Officer

    JBSS.A.2009Todososdireitosreservados

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