JBS has responded to Huon shareholder Tattarang's demands for it to "declare its unequivocal commitment to animal welfare and environmental sustainability" or face barriers from the agri-giant in JBS's proposed acquisition of the Australian salmon farmer.
"JBS unequivocally supports the principle of 'no pain, no fear' animal welfare across its global operations," said the Brazilian meat processing giant in a statement published by Huon.
"As stated in the Share Acquisition Booklet, JBS S.A. has an uncompromising global commitment to sustainability and animal welfare. This commitment extends to Huon, where JBS intends to build on the company’s strong foundations and uphold the highest standards of fish health and sustainable farming practices, from water management to animal welfare, net zero emissions and stocking densities."
JBS wants to acquire 100 percent of Australian salmon farmer Huon at AUD 3.85 ($2.88/€2.48) per share by way of concurrent schemes of arrangement and an off-market takeover bid being run in parallel but not in substitution to the schemes.
Huon shareholder Tattarang Agrifood -- owned by mining magnate Andrew "Twiggy" Forrest -- on Wednesday once again called on JBS to commit to animal welfare and environmental sustainability if JBS wants the group's support of its proposed acquisition of salmon farmer Huon.
“Until JBS declares its unequivocal commitment to adopt the same animal welfare – including the principle of no pain, no fear – and environmental sustainability standards as JBS Australia across their global operations, Huon shareholders have no certainty for the future of the company under JBS Group’s control," said Forrest.
Until JBS makes those commitments, it is Tattarang’s current intention to vote against both Schemes of Arrangement, he added.
"Only a clear commitment by JBS in respect to its global operations would give Tattarang sufficient confidence to reconsider its position."
Australia's Foreign Investment Review Board (FIRB) has confirmed to JBS that the Commonwealth has no objection to JBS' proposed acquisition of Huon under either method.
The deal, however, could still potentially be blocked by Tattarang, which upped its stake in the salmon producer to 18.5 percent in the wake of the proposal and indicated it might not let the deal go ahead.
Forrest has consistently questioned aspects of the animal husbandry practices of JBS and environmental standards of Huon and the salmon industry in Tasmania.
The meetings to consider the schemes are scheduled to be held on Friday.
