JBS Launches Vigor Exchange

Brazil’s JBS has launched a 1-for-1 exchange of up to 149.7m of its shares for new shares of its Vigor Alimentos dairy spinoff, it says. At a price of BRL7.96 per JBS share, the offer open through June 15 could be worth BRL1.17bn ($584m). Bradesco is advising JBS in the process. JBS shares closed at BRL5.87 Friday.