JBS S.A. and VIVA to Form Joint Leather Venture JBS VIVA

The latest update is out from JBS N.V. Shs Sponsored Brazilian Depositary Receipt Repr 1 Sh A ( (BR:JBSS32) ).

JBS S.A. has signed an Association Agreement with VIVA Holding to combine their leather production, processing and commercialization assets into a new jointly owned company, JBS VIVA, with each party holding 50% of the shares and sharing board control. Prior to closing, both sides will reorganize their structures to consolidate relevant leather operations into JBS Couros and VIVA, while excluding collagen and gelatin activities, certain international plants and non-core assets.

Under the deal, JBS VIVA will integrate JBS’s leather assets in Brazil and abroad with VIVA’s leather operations and chemical inputs business, creating a larger, more specialized player in the global leather supply chain. JBS S.A. and JBS VIVA will also enter reciprocal supply agreements for hides and leather by-products, reinforcing feedstock security for JBS’s gelatin and collagen operations, though completion of the transaction remains subject to customary closing conditions and timing is not guaranteed.