|Over a quarter ago|
Bachoco cements agreement to invest in processed pig business in Mexico » 17:3406/0806/08/20
Industrias Bachoco announced, after Mexican Antitrust Authorities approval that the agreement on investing in the company Sonora Agropecuaria S.A. de C.V. "SASA", a swine processing and distributor company with operations in the states of Sonora and Jalisco, has been closed. The beginning of this process was first announced at the end of 2019. This agreement states that Bachoco will acquire the 54.8% of SASA capital stock. It also contemplates the acquisition of the assets related to Bachoco's live swine business by SASA. This transaction will be done through Bachoco S.A. de C.V subsidiary. After the investment, acquisition and integration derived from this agreement, Bachoco will invest in the swine business up to $2,000 million pesos in the next 4 years of the integration. Being one of the top ten processors in Mexico, SASA has a production capacity of around 15,000 hogs per week, serving both the domestic and export markets.
Bachoco downgraded to Neutral from Overweight at JPMorgan » 05:3605/1205/12/20
JPMorgan analyst Ulises…
JPMorgan analyst Ulises Argote downgraded Bachoco to Neutral from Overweight with a $42 price target.
Bachoco trading resumes 10:4103/1603/16/20
Bachoco trading halted, volatility trading pause 10:3503/1603/16/20