Latest news with #Cavalcanti
Mint
30-06-2025
- Business
- Mint
Meat Giant JBS Says Investor Demand for Its Bonds Undercuts ESG Concerns
(Bloomberg) -- JBS NV's New York listing was met with fierce opposition from activist groups and politicians over the meat producer's ESG record. Many investors, however, seem willing to look the other way. A $3.5 billion bond sale earlier this week drew demand totaling five times the offering, slashing borrowing costs and providing strong evidence of investors' confidence in JBS, Chief Financial Officer Guilherme Cavalcanti said Wednesday during a conference with journalists in New York. 'The main funds were all there, eager to be allocated,' Cavalcanti said, after being asked how criticism of the company impacted investor perception. The issuance was well oversubscribed less than three hours after launch, he added, without naming any of the buyers. The deal's success suggests investors are inclined to look past activists' criticism over issues such as the past scandals involving the brothers who control JBS and the company's alleged role in deforestation, placing more emphasis on the company's ability to grow and keep its finances under control. JBS has taken steps to boost its environmental, social and governance credentials. The company has done 'transformative' work to slash cattle ranching-related deforestation in the Amazon region, Chief Executive Officer Gilberto Tomazoni said during the same conference. And it has now a 'very robust' compliance program in place, Cavalcanti said in a Bloomberg TV interview. The company said in a statement that investors have repeatedly demonstrated confidence in JBS's actions to mitigate risks in areas such as governance and the environment 'thanks to the robust programs JBS has implemented.' The bond sale was the first since the meat producer listed its shares on the New York Stock Exchange earlier this month in a move aimed at attracting a broader pool of investors and reducing capital costs. Bondholders demanded a premium of 1.25 percentage points over Treasuries for its $1.25 billion in 10-year bonds — a record low for JBS offerings with similar maturities, and comparable to the levels required from high-grade US issuers such as Energy Transfer LP and NextEra Energy Inc. Borrowers rushed to tap debt markets this week amid improved risk sentiment. Mexico, Chile and Latam Airlines Group SA are among those who came out with bond issuances this week. JBS said earnings before items such as interest and taxes have potential to grow at an annual rate of as much as 7% over the next five years as the company seeks to expand into branded, value-added food products. Sales are projected by analysts at a record $82.5 billion this year. The stock is headed for a 10% gain this week, the most among main peers. To be sure, JBS still faces scrutiny from activist groups. Earlier this month, Greenpeace International Program Director Carmen Gravatt said the organization will do its part to make sure that JBS — which relocated its corporate address to the Netherlands — operates within Dutch law. The non-profit also urged investors not to invest in the company. (Updates with company statement in sixth paragraph, and share move in 11th paragraph.) More stories like this are available on ©2025 Bloomberg L.P.
Yahoo
14-05-2025
- Business
- Yahoo
Brazil's JBS defends dual listing proposal following criticism
By Ana Mano SAO PAULO (Reuters) - Brazilian meatpacker JBS SA defended the structure of a proposed dual listing that will go to shareholders for approval this month, saying on Wednesday that the plan is an attractive value proposition to investors in the long term. If approved by minority shareholders on May 23, the plan - originally announced in 2023 - would see the world's biggest meat company primarily listed in New York with Brazilian depositary receipts traded in Sao Paulo. The Institutional Shareholder Services (ISS), an advisory firm for matters of corporate governance, has argued the proposal could potentially weaken minority shareholders' rights. In a call with analysts to discuss first-quarter results on Wednesday, JBS' Chief Financial Officer Guilherme Cavalcanti said the proposed structure ensures the company will retain a strong controlling shareholder that fully understands the sector. "In our industry, it is very important that you have defined control," he said. "And control defined by people who understand the business, who have a track record ... This is the best format." JBS' current controlling shareholder is the Batista family's J&F investment group. In a letter sent to shareholders obtained by Reuters, JBS criticized ISS's position. "ISS clearly fails to recognize the long-term commitment and strategic importance of the controlling shareholder's role and contribution in achieving JBS' leadership in the global food industry," it wrote. JBS NV, the Dutch company created for the dual listing, will issue Class A and Class B shares. Under the proposed structure, the Class B shares will have 10 times the voting power of Class A shares, and only Class A shares will be publicly traded. In one potential scenario, JBS' controlling shareholders could end up with 85% of voting power. All shareholders will be able to convert Class A into Class B shares, Cavalcanti told the analysts. In private talks with investors, he said JBS managers have been urging all the company's shareholders to back the dual listing, but he added that he could not predict the vote's outcome. JBS recently received a green-light from the U.S. Securities and Exchange Commission to go ahead with the plan, meaning its shares could start trading in New York next month. Should the plan be rejected by the minority shareholders, however, it would need to file for a new SEC approval, a process that would take three to six months to complete, Cavalcanti said.
Yahoo
18-02-2025
- Sport
- Yahoo
Jacqueline Cavalcanti has two callouts after UFC Fight Night 251
LAS VEGAS – Jacqueline Cavalcanti beat Julia Avila with a unanimous decision Saturday to open the preliminary card at UFC Fight Night 251 at the UFC Apex in Las Vegas. Take a look inside the fight with Cavalcanti, whose win sent Avila into retirement – something she decided ahead of the fight. Result: Jacqueline Cavalcanti def. Julia Avila via unanimous decision (30-27, 30-27, 30-27) Updated records: Cavalcanti (9-1 MMA, 4-0 UFC), Avila (9-4 MMA, 3-3 UFC) Key stats: Cavalcanti outstruck Avila 75-57. She was a 10-1 betting favorite. "The game plane for this fight was to control the distance. ... I think she respected my hands. She didn't come (formward too much). I tried to give 100 percent. I'm happy (with my striking), but I can do more. The next time I come back, I can do better. " "I think the key is hard work, and to have good mental (approach), good coaches, good training partners around – that's the key." "I want to fight Miesha Tate or Karol Rosa. Karol Rosa is a very good girl, but she's in my division. I want to fight everybody. I want (to be in the top 10). I worked for this." To hear more from Cavalcanti, check out the video of the full post-fight interview above. For more on the card, visit MMA Junkie's event hub for UFC Fight Night 251. UFC Fight Night 251: Best photos from Las Vegas UFC Fight Night 251: Official scorecards from Las Vegas This article originally appeared on MMA Junkie: Jacqueline Cavalcanti has two callouts after UFC Fight Night 251
USA Today
18-02-2025
- Entertainment
- USA Today
Jacqueline Cavalcanti has two callouts after UFC Fight Night 251
LAS VEGAS – Jacqueline Cavalcanti beat Julia Avila with a unanimous decision Saturday to open the preliminary card at UFC Fight Night 251 at the UFC Apex in Las Vegas. Take a look inside the fight with Cavalcanti, whose win sent Avila into retirement – something she decided ahead of the fight. Jacqueline Cavalcanti def. Julia Avila Result: Jacqueline Cavalcanti def. Julia Avila via unanimous decision (30-27, 30-27, 30-27) Updated records: Cavalcanti (9-1 MMA, 4-0 UFC), Avila (9-4 MMA, 3-3 UFC) Key stats: Cavalcanti outstruck Avila 75-57. She was a 10-1 betting favorite. Cavalcanti on the fight's key moment 'The game plane for this fight was to control the distance. … I think she respected my hands. She didn't come (formward too much). I tried to give 100 percent. I'm happy (with my striking), but I can do more. The next time I come back, I can do better. ' Cavalcanti on her four-fight streak 'I think the key is hard work, and to have good mental (approach), good coaches, good training partners around – that's the key.' Cavalcanti on what she wants next 'I want to fight Miesha Tate or Karol Rosa. Karol Rosa is a very good girl, but she's in my division. I want to fight everybody. I want (to be in the top 10). I worked for this.' To hear more from Cavalcanti, check out the video of the full post-fight interview above. For more on the card, visit MMA Junkie's event hub for UFC Fight Night 251. Gallery UFC Fight Night 251: Best photos from Las Vegas View 111 photos
USA Today
18-02-2025
- Entertainment
- USA Today
Julia Avila says UFC retirement about being there more for daughter
LAS VEGAS – Julia Avila knew going into her fight against Jacqueline Cavalcanti at UFC Fight Night 251 this past Saturday it was going to be her final fight. But that didn't make things any less emotional in the aftermath. Cavalcanti (9-1 MMA, 4-0 UFC) beat Avila (9-4 MMA, 3-3 UFC) with a unanimous decision on the preliminary card at the UFC Apex and sent her into retirement on a loss. Cavalcanti was a 10-1 favorite in the fight, but Avila said the rigors of training played their part well before Saturday. 'I remember one time after a hard training session, it was really difficult for me to pick up my daughter,' Avila said after her loss at a post-fight news conference. 'We just sat down on the ground and cried because I couldn't lift her up. I was so injured and I knew it was time then.' Her daughter now will have her mom around more often, too – another major factor, Avila said. She joined her at the table. 'I'm taking time away from watching her grow up. The money, the energy, the time – z just don't have enough of it,' Avila said. 'I have to choose between being a mother and an athlete, and her needs far outweigh my dreams. It was time to put someone else instead of me.' Avila, from Los Angeles, will turn 37 in May. She turned pro in 2012, but didn't start fighting regularly until 2016. Although she never was in title contention in the UFC's women's bantamweight division, her resume includes wins over Marion Reneau, Nicco Montano, Pannie Kianzad and Gina Mazany. Check out Avila's full post-fight interview in the video above. For more on the card, visit MMA Junkie's event hub for UFC Fight Night 251. Gallery UFC Fight Night 251: Best photos from Las Vegas View 111 photos
