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05-30-2007, 09:19 AM #1
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Swift & Co being sold to Brazil
http://www.dallasnews.com/sharedcont...le.5468be.html
Dallas-based HM Capital selling Swift & Co.
02:32 PM CDT on Tuesday, May 29, 2007
Associated Press
DENVER — Swift & Co., one of the nation’s largest meatpacking companies, said Tuesday it will be sold to a Brazilian company in a $225 million cash deal.
JBS S.A. also will assume $1.2 billion in debt under the agreement with Swift’s owners, HM Capital Partners of Dallas and Vail-based Booth Creek Management Corp.
Closing is expected in mid-July and is contingent upon antitrust reviews.
The announcement comes about four months after Swift, which was targeted by a wide-scale immigration raid in December, said it was reviewing its operations and looking at a potential sale.
“Joining J&F to become the world’s largest beef and pork processor, Swift should emerge even stronger, and that is good news for our partnership customers, our suppliers and our employees,â€
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