NEWS
Mon Jul 28, 2014 07:50 AM CDT

SAO PAULO, Brazil (Dow Jones) -- Brazilian meat processor JBS SA and its unit Pilgrim's Pride on Monday said they reached an agreement to acquire poultry businesses in Mexico and Brazil from Tyson Foods Inc. for $575 million.

Of the transaction total, $400 million will be for Tyson Foods' operations in Mexico and the rest for poultry businesses in Brazil. The total amount will be paid in cash, JBS said in a statement. The acquisition still must be approved by authorities.

JBS and Pilgrim's Pride will add the acquired portfolio to their existing business, while Tyson cited a lack of ...

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