JBS SA, the world’s largest beef producer, hired units of JPMorgan Chase & Co. and Banco Bradesco SA for a 3 billion-real ($1.3 billion) initial public offering of its poultry and processed food unit, according to two people with direct knowledge of the matter.
Plunging equity prices in Iceland are unlikely to curb interest in tapping the stock market for funds, according to the head of the nation’s exchange, even as capital controls imposed in 2008 risk creating an asset bubble.
Greek banks may need more capital than current estimates suggest, European and International Monetary Fund officials said as they reached a preliminary agreement to unblock money under the Mediterranean nation’s bailout.
Cerberus Capital Management LP’s $9 billion deal to merge Safeway Inc. with Albertsons is a bet that a larger supermarket chain can better fend off an attack on the grocery business by big-box stores and online retailers.
Chinese carmaker BYD Co. may be getting some bad news as it prepares to start selling in the U.S. next year. A planned reduction in government subsidies and a phase-out of interest-rate controls threaten to raise costs for it and thousands of companies across China.
Veolia Environnement SA, Europe’s largest water utility, advanced the most in six months in Paris trading after forecasting higher profit this year and proposing the renewal of Chief Executive Officer Antoine Frerot’s term.
Safeway Inc., the second-largest U.S. grocery-store chain, agreed to be bought by Cerberus Capital Management LP’s Albertsons in a deal valued at about $9.2 billion, creating a bigger competitor to Kroger Co. and big-box rivals.
Veolia Environnement SA wants to almost double sales from the food processing industry within the next few years as part of an effort by Europe’s biggest water utility to boost contracts with industry.