JBS partners Indonesian fund arm for $2.5B protein venture

Key facts

• JBS is forming a joint venture with PT Danantara (DIM), an arm of Indonesia's sovereign wealth fund.
• The joint venture will focus on protein production investments.
• The target regions for investment include Indonesia, Southeast Asia, Australia, and New Zealand.
• The Indonesian fund will contribute $2.5 billion to the venture.
• JBS's current operations in Australia and New Zealand will be part of the joint venture.

Brazilian meatpacker JBS has agreed to establish a joint venture with PT Danantara (DIM), a subsidiary of Indonesia's sovereign wealth fund. This new entity will focus on investments in protein production across Indonesia, Southeast Asia, Australia, and New Zealand.

The venture is set to receive a significant investment of $2.5 billion from the Indonesian fund. Additionally, JBS's existing businesses in Australia and New Zealand will be integrated into this joint venture, according to a securities filing by the company.