JBS increases stock in Pilgrim's Pride, now owns 67%

JBS S.A. of Brazil has increased its ownership in poultry processor Pilgrim's Pride Corp., the company it purchased out of bankruptcy earlier this year.
JBS purchased a block of 7 million Pilgrim's Pride shares for $5.96 per share. This stock purchase, which represents 3.27% of the total number of outstanding Pilgrim's Pride shares, raises JBS's ownership to 67.27%. Pilgrim's interest, according to both companies, remains a significant shareholder in Pilgrim's Pride.