JBS S.A. Completes Acquisition of Swift & Company
16 Jul 2007 --- The amendments to the indentures contained in such supplemental indentures became effective upon execution of the supplemental indentures and will become operative upon the purchase of the tendered Notes.
16/07/07 JBS S.A., Latin America's largest beef processor, and Swift & Company, the world's third-largest processor of fresh beef and pork products, announced that JBS has completed the acquisition of Swift from HM Capital Partners LLC, a leading, Dallas-based private equity firm, and Booth Creek Management Corporation in an all cash transaction valued at approximately $1.5 billion. As a result of this acquisition, the consolidated JBS Swift Group will be the largest beef processor in the world.
Swift, S&C Holdco 3, Inc. and Swift Foods Company also announced the successful completion of their tender offers and consent solicitations for the outstanding 10-1/8% Senior Notes due 2009 issued by Swift, the 12-1/2% Senior Subordinated Notes due January 1, 2010 issued by Swift, the 11.00% Senior Notes due 2010 issued by S&C Holdco 3 and the 10.25% Convertible Senior Subordinated Notes due 2010 issued by SFC. The tender offers expired at 8:00 a.m., New York City time, on July 11, 2007. Approximately 99.2% of the 10-1/8% Senior Notes, 93.4% of the Subordinated Notes, 99.9% of the 11.00% Senior Notes and 99.9% of the Convertible Notes were validly tendered, not withdrawn and have been accepted for payment.
Each Company, the applicable guarantors and the trustee have entered into a supplemental indenture for the applicable Notes, giving effect to the amendments to the indentures. The amendments to the indentures contained in such supplemental indentures became effective upon execution of the supplemental indentures and will become operative upon the purchase of the tendered Notes.
J.P. Morgan Securities Inc. acted as the Dealer Manager and the Solicitation Agent in connection with the tender offers and consent solicitations. The Information Agent for the tender offers and consent solicitations was D.F. King & Co., Inc.
This release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to the Notes, nor is this release an offer or solicitation of an offer to sell any securities.
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