The world’s largest meat company JBS is to move some €30bn worth of assets to Dublin as the firm implements a major overhaul of its corporate structure.
JBS’ headquarters will be moved to Dublin as part of the overhaul, according to a report in The Irish Times.
The paper reports the Brazilian-based company paid €1.35bn last year for Northern Ireland-based poultry firm Moy Park. Meanwhile in May JBS set up a Dublin business called JBS Foods International, which is based in Dublin’s docklands.
JBSFI will be listed on the New York Stock Exchange and will take ownership of all the assets associated with JBS, except for the domestic beef related units.
Shareholders in the Brazilian business will be given shares in the new Irish company after the assets are sent across to the new body.
JBS had an annual turnover of around €45bn last year.
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