So the worlds biggest meat processor has just bought Primo small goods for $1.45Bil.
Only 3 yrs ago they announced a record $1bil loss & in the same breath said they were going to take longer to pay their suppliers. On careful investigation it came to light that their banker the Govt owned Development bank of Brazil Took over a third of the companies shares in lieu of unserviceable debt therefore making the Brazilian Govt a major shareholder in the lions share of Australias meat processing sector. In recent years they bought the Tasman group in the countries south & promptly shut most of it down including the flagship KING ISLAND works. Take it from one who knows they aint fun to deal with ,the term bully springs to mind so we will see just how much the Govt will scrutinise this last transaction . If it's not the Chinese state owned Shenhua coal its the Brazilian Govts JBS.
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