JBS inches closer to US listing as state shareholder abstains from key vote
SAO PAULO (Reuters) -The controlling shareholder of Brazilian meatpacking giant JBS and government investment vehicle BNDESPar, the second largest shareholder in JBS, have signed a deal that puts the company closer to listing its shares in both the United States and Brazil. In a securities filing released on Monday, JBS said BNDESPar, which is the investment arm of Brazilian state development bank BNDES, agreed to abstain from voting at an upcoming meeting to discuss the proposed dual listing, leaving the final decision to other minority shareholders. J&F Investimentos, a holding company run by JBS's founding Batista family, which is the company's controlling shareholder, will not have a right to vote on the proposal at the shareholders' meeting, said BNDESPar in a separate statement confirming the arrangement.