Brazilian appeals court authorizes Joesley Batista to go back to JBS parent J&F

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Brazilian appeals court STJ on Tuesday authorized the return of billionaire Joesley Batista to managing positions in companies controlled by meatpacker JBS SA's parent company, J&F Holding.

FILE PHOTO: Brazil's billionaire businessman Joesley Batista is pictured at the Brasilia international airport, after giving testimony in Brasilia, Brazil, September 7, 2017. REUTERS/Adriano Machado/File Photo

BRASILIA - Brazilian appeals court STJ on Tuesday authorized the return of billionaire Joesley Batista to managing positions in companies controlled by meatpacker JBS SA’s parent company, J&F Holding. In a court decision, Judge Rogerio Schietti said it no longer made sense to bar Joesley from positions in the companies in which he is a controlling shareholder. He has been barred from holding positions since 2018, due to a restraining order in a federal police probe on insider trading.Reporting by Ricardo Brito in Brasilia; Writing by Tatiana Bautzer; Editing by Franklin Paul and Matthew Lewis

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