Batista Brothers’ Latest Deal Drags Brazil Into Fresh Turmoil

By taking their father’s slaughterhouse in the Brazilian countryside and building the world’s largest meat producer, Wesley and Joesley Batista earned reputations as consummate dealmakers. Their latest bargain, which may be their boldest yet, has dragged the country and its president into a crisis.

The brothers, who control and run meat giant JBS SA, are among seven company executives who signed a plea bargain agreement with Brazilian authorities in exchange for reduced sentences, according to a person with direct knowledge of the matter, who asking not to be identified. The accord related to investigations into transactions between JBS, the Batistas’ holding company, and state-run banks and pensions funds, the person said.

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