The billionaire Batista brothers, who control meatpacking giant JBS NV, have expanded into Brazil’s steel industry with the purchase of a minority stake in Usinas Siderurgicas de Minas Gerais SA.
Investment firm Globe Investimentos SA on Thursday acquired a 5% interest in Usiminas, as the steelmaker is known. Wesley and Joesley Batista are the controlling shareholders of Globe, according to a person with direct knowledge of the matter. The brothers’ investment was previously reported by local newspaper Valor Economico.
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