Brazil Company Buying Swift & Co.

JBS SA, the company that controls Brazil's leading beef exporter Friboi, will buy U.S.-based Swift & Co. in a $225 million cash deal, that also comes with $1.2 billion in debt, JBS announced Tuesday. Private equity firm HM Capital acquired the troubled meats company from ConAgra Foods, Inc. in September 2002. Swift is the third-largest U.S. processor of beef and pork. The combined company will be the world's largest beef company, and make JBS Brazil's biggest food company, JBS said. The deal for Swift was announced before markets opened Tuesday. The acquisition must be approved by local authorities and JBS said it expects to conclude the deal by July....