JBS Gets Spinoff OK

Regulators have approved JBS’ proposed BRL1.19bn ($596m) spinoff of its Vigor Alimentos dairy unit, JBS says. The Brazilian beef company plans to offer a 1-for-1 share exchange for up to 149.7m shares of Vigor at a minimum price of BRL7.96 each. Further details are expected within 10 days. Bradesco is advising JBS in the process. JBS shares closed at BRL6.09 Wednesday.