JBS gets OIO approval to take majority stake in Scott Technology

Wed, 30 Mar 2016

By Paul McBeth March 30 (BusinessDesk) - Brazilian meat processor JBS has been granted Overseas Investment Office approval to take a majority stake in Scott Technology, ending a process that dragged on for more than six months. Dunedin-based Scott today said its scheme of arrangement with JBS Australia had been signed off by the OIO, paving the way for High Court approval which is expected to be granted in two weeks. The OIO application was first filed on Sept. 17 last year and was initially expected to be completed in December. The...

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