JBS S.A. and Viva Holding form 50/50 leather JV 'JBS Viva'

JBS N.V.

JBS S.A. and Viva Holding each own 50% of JBS Viva; JBS contributes all JBS Couros quotas (leather assets).
Governance parity: 3 board members each; JBS appoints Chairman (no casting vote) and CFO; Viva appoints CEO and COO.
JV excludes collagen/gelatin, JBS Cactus Texas operations, and leather assets in Germany, Uruguay, Mexico.
JBS Viva will buy raw hides from JBS via supply agreement; JBS buys trimmings/shavings for gelatin business.
Closing subject to customary conditions; no guarantee of consummation; date not specified.

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