🗽 NY bound

Good morning! Rio de Janeiro’s iconic Christ the Redeemer statue spent the whole of yesterday closed after a Brazilian tourist died on Sunday while climbing the staircases up to the monument. 54-year-old Jorge Alex Duarte had a heart attack on the attraction’s steps and there were no paramedics on hand to treat him.

JBS closer to New York listing

After nearly two years of negotiations, Brazilian meat processing giant JBS has secured approval from Brazil's National Development Bank (BNDES) to list its shares in New York, a move that could triple the company’s market value and enhance its acquisition power.

Driving the news. The controlling shareholder, J&F, reached an agreement with BNDESPar — the investment arm of the state-owned bank, which holds a 20.8% stake in JBS — ensuring the bank will not oppose the listing.

• Under the agreement, BNDESPar will abstain from voting in the upcoming shareholder assembly, leaving the decision to minority investors who broadly support the dual listing (the company’s shares are also traded in São Paulo).

• The company’s main shareholders, brothers Wesley and Joesley Batista (who own a combined 48.3% stake), are ineligible to vote, making BNDESPar’s neutrality pivotal for the proposal’s success.

Want to keep reading?