Bertin Could Benefit From Friboi Buy

Rumors indicate that acquisitive Brazil beef giant JBS Friboi will acquire peer Bertin, and although the companies are not saying anything, Barclays believes a deal could be beneficial for the alleged target. “Bertin’s bonds are trading at roughly 89, implying a market value of net debt of $1.8bn, which would make an acquisition of Bertin a $2.0bn-$2.5bn event. We would see a merger with Friboi as a positive for Bertin creditors,” the shop says.