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Beccar Varela 

August, 2017 - Buenos Aires, Argentina



Minerva acquires JBS companies in Argentina, Paraguay and Uruguay.


Buenos Aires, August 10th, 2017. Pul Argentina S.A., Frigomerc S.A. and Pulsa S.A., companies controlled by Minerva S.A., a South American leader in the production and sale of fresh beef, live cattle and cattle by-products, with operations also in the beef processing segment, completed on July 31st the acquisition of shares representing 100% of the capital stock of JBS Argentina S.A., JBS Paraguay S.A., Industria Paraguaya Frigorífica S.A. and Frigorífico Canelones S.A., until that date held by JBS S.A. and JBS Handels GmbH, pursuant to the share purchase agreement executed on June 5th, 2017. The purchase price was approximately US$300 million, subject to adjustments under the terms of the forementioned share purchase agreement.

Stocche Forbes Advogados (on Minerva’s side) and Mattos Filho (on JBS’ side) coordinated the three-nation cross-border deal. Horacio E. Beccar Varela and Casiana Silveyra Perdriel, partners at Beccar Varela (counsel to Minerva and its affiliate in Argentina), said they were “very proud of having advised a prestigious company like Minerva in its expansion to Mercosur”. They also added, “We are pleased to say that this acquisition is another sign of the confidence foreign investors are showing towards Argentina”. Álvaro Tarabal, partner at Guyer & Regules (counsel to Minerva and its affiliate in Uruguay), highlighted that “Once again Minerva bets on Uruguay and increases its investment in the country with the acquisition of Frigorífico Canelones. This transaction had the complexity of all the jurisdictions involved and the time constrains”. José Antonio Moreno Ruffinelli and María Esmeralda Moreno Rodríguez Alcalá, partners at Moreno Ruffinelli & Asociados (counsel to Minerva and its affiliate in Paraguay) stated, “Minerva continues investing as the 6th largest beef exporter in the world. It is clear that Paraguay, with its economic stability, strong currency, low taxes and modern legal framework, provides all the right elements for such a complex transaction and large investment”.

Counsel to Minerva:
In Brazil
Stocche Forbes Advogados (deal coordinator) (partner Guilherme Forbes, associate Gabriela Bonfim de Almeida Braga and legal assistants André Bandeira de Mello and Giuliana Pescarolli Spadoni).

Counsel in antitrust matters:
O.C. Arruda Sampaio - Sociedade de Advogados (partner André Sampaio)

In Argentina:
Beccar Varela (partners Horacio E. Beccar Varela and Casiana Silveyra Perdriel and associate Lucía Guardone).

In Uruguay:
Guyer & Regules (partners Álvaro Tarabal and Juan Manuel Mercant and associates Martina Reyes, Jimena Lanzani, Emilia Cadenas and Pilar Alvarez).

In Paraguay:
Moreno Ruffinelli & Asociados (partners José Moreno Ruffinelli and María Esmeralda Moreno Rodríguez Alcalá and associate Carlos Darío Ruffinelli C.).

Minerva in-house counsel:
Legal Director: Flávia Regina Ribeiro da Silva Villa. Attorneys: Vanessa Figueiredo Gonçalves and Fernanda Scur.

Counsel to JBS
In Brazil:
Mattos Filho (partners Hiram Bandeira Pagano Filho and Marcio Dias Soares and associates Victor Gelli Cavalcanti and Bruna Pavanello).

In Argentina:
Marval, O’Farrell & Mairal (partner Pablo Andrés Artagaveytia and associates María Fernanda Molina, María Virginia Canzonieri, Melisa Dotta e Ignacio Torino).

In Uruguay:
Lapique & Santeugini Abogados (partner Luis Lapique).

In Paraguay:
Mersan Abogados (partner Carlos T. Mersan Galli).

JBS in-house counsel:
General Counsel: Khalil Kaddissi. Legal Managers: Milena Hitomi Yanagisawa Lopes and María Cristina de Almeida Manzano. Legal Assistant: Cíntia Matos Maltez Lima.


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