<SEC-DOCUMENT>0001193125-23-185594.txt : 20250819
<SEC-HEADER>0001193125-23-185594.hdr.sgml : 20250819
<ACCEPTANCE-DATETIME>20230712061226
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-185594
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230712

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JBS B.V.
		CENTRAL INDEX KEY:			0001791942
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			P7

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STROOMBAAN 16
		STREET 2:		5E VERDIEPING
		CITY:			AMSTELVEEN
		PROVINCE COUNTRY:   	P7
		BUSINESS PHONE:		31206564700

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		STROOMBAAN 16
		STREET 2:		5E VERDIEPING
		CITY:			AMSTELVEEN
		PROVINCE COUNTRY:   	P7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JBS B.V.
		DATE OF NAME CHANGE:	20221121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Swift Foods B.V.
		DATE OF NAME CHANGE:	20200203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Violet Holdings B.V.
		DATE OF NAME CHANGE:	20191022
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July&nbsp;12, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BY EDGAR
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Manufacturing </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street,
N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Beverly Singleton</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Claire Erlanger</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Jennifer Angelini</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Geoffrey Kruczek</TD></TR>
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<TD VALIGN="top">Re:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Comment Letter dated June&nbsp;27, 2023</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">JBS B.V.</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Amendment No.&nbsp;6 to Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Submitted June&nbsp;21, 2023</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">CIK No.&nbsp;001791942</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">JBS B.V. (the &#147;<U>Company</U>&#148;) is submitting this letter in response to the comment letter dated June&nbsp;27, 2023 (the
&#147;<U>Comment Letter</U>&#148;) issued by the staff of the Division of Corporation Finance (the &#147;<U>Staff</U>&#148;) of the U.S. Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) with respect to Amendment No.&nbsp;6 to
the Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> submitted to the Commission for confidential review on June&nbsp;21, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Concurrently with the submission of this response letter, the Company is publicly filing, through the Commission&#146;s Electronic Data
Gathering, Analysis and Retrieval system (&#147;<U>EDGAR</U>&#148;), a revised Registration Statement on Form <FONT STYLE="white-space:nowrap">F-4</FONT> (the &#147;<U>Registration Statement</U>&#148;). The Registration Statement includes revised
disclosure in response to the Staff&#146;s comments, as noted herein, and other changes to reflect Company updates and developments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">To
facilitate the Staff&#146;s review, the text set forth below in bold-faced type, immediately following each paragraph number, is a reproduction of the comments included in the Comment Letter. Except as otherwise indicated, all references to page
numbers and captions (other than those in the Staff&#146;s comments) correspond to the page numbers and captions in the Registration Statement. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the
Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Amendment No.&nbsp;6 to Draft Registration Statement </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>General </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comments 1 and 2. Please further revise the disclosure on page 261 and the
opinion filed as Exhibit 8.1 to clearly state that the disclosure in the section captioned &#147;Material U.S. Federal Income Tax Consequences&#148; is the opinion of the named counsel. Refer to Sections III.B.2 and III.C of Staff Legal Bulletin 19.
</B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and revised the disclosure on page&nbsp;260 of the
Registration Statement in response. Furthermore, the Company has included a revised Exhibit 8.1 with the Registration Statement. </P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note revised disclosure indicating that LuxCo will receive both Class&nbsp;A and Class&nbsp;B shares in
the restructuring, with numbers of each to be identified. We further note disclosure that &#147;This step will be subject to the same exchange ratio that will be applied to JBS S.A.&#146;s <FONT STYLE="white-space:nowrap">non-controlling</FONT>
shareholders . . . .&#148; Please revise to clarify in light of the two classes of shares involved; for example, whether LuxCo will receive one Class&nbsp;A share and one Class&nbsp;B share for every four common shares of JBS S.A., or whether some
other ratio will be applied. In addition, please revise the definition of &#147;Exchange Ratio&#148; as appropriate to reflect that this applies solely to <FONT STYLE="white-space:nowrap">non-controlling</FONT> shareholders; in this regard, we note
that the definition excludes HoldCo, but not LuxCo, although it refers to the distribution of HoldCo redeemable shares and BDSs. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure in the explanatory note, on the cover page and on
pages&nbsp;vi, xiv, xix, xxv, 12-13, 64, 68, 82 and 270 of the Registration Statement in response. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Please revise disclosure throughout to reflect the issuance of Class&nbsp;A shares to LuxCo in step one of
the restructuring. Address, without limitation, the following items: </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Revise risk factor disclosure on page 24 to indicate whether the registration rights agreement will apply to
Class&nbsp;A shares issued to LuxCo in the restructuring, or only to those issued upon conversion of Class&nbsp;B shares. </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Revise risk factor disclosure on page 26 to describe the liquidity effects if LuxCo converts Class&nbsp;A
shares, in addition to Eligible Shareholders. </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Revise risk factor disclosure on pages <FONT STYLE="white-space:nowrap">27-28</FONT> to clarify that Eligible
Shareholders are subject to limitations on the number of Class&nbsp;A shares they can convert, while LuxCo is not subject to such limitations, with the effect of maintaining a specified minimum percentage of voting control by the controlling
shareholders. Additionally highlight any other differences in treatment between LuxCo and Eligible Shareholders; in this regard we note disclosure on page 70 that indicates the board of directors will resolve on conversion requests from LuxCo within
days of the request, while disclosure elsewhere indicates that conversion requests of Eligible Shareholders will not be resolved upon until following the end of the fiscal quarter in which they are made. </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Revise the chart on page 65 to indicate the percentage of Class&nbsp;A shares to be held by LuxCo immediately
following the proposed transaction, and also to clarify that other shareholders will hold Class&nbsp;A shares in the form of BDSs. </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>Revise for consistency disclosure indicating that the controlling shareholders (through LuxCo) will own all of
the Class&nbsp;B and Class&nbsp;A shares upon completion of the proposed transaction, for example on pages 27 and 67. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure regarding approval of the Proposed Transaction in
response, as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">On pages&nbsp;24, 196, 200 and 258-259 of the Registration Statement, the Company has revised the risk factor
disclosure to indicate that the registration rights agreement will also apply to JBS N.V. Class&nbsp;A Common Shares issued to LuxCo in the Restructuring. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">On page&nbsp;28 of the Registration Statement, the Company has included a new risk factor entitled &#147;<I>Our
controlling shareholders (through LuxCo) and our <FONT STYLE="white-space:nowrap">non-controlling</FONT> shareholders will be treated differently during the Class</I><I></I><I>&nbsp;A Conversion Period</I>&#148;<B><I> </I></B>to highlight the
differences in treatment between LuxCo and the Eligible Shareholders in connection with the Class&nbsp;A Conversion Period. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">On page&nbsp;66 of the Registration Statement, the Company has revised the chart to indicate the percentage of
JBS N.V. Class&nbsp;A Common Shares to be held by LuxCo immediately following the Proposed Transaction, and also to clarify that other shareholders will hold JBS N.V. Class&nbsp;A Common Shares in the form of BDRs. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">On the cover page and on pages&nbsp;11, 27, 68 and 187 of the Registration Statement, the Company has revised the
disclosure regarding the controlling shareholders&#146; ownership of JBS N.V. Class&nbsp;A Common Shares and JBS N.V. Class&nbsp;B Common Shares upon completion of the Proposed Transaction. </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">With respect to the portion of the Staff&#146;s comment regarding the liquidity effects on the JBS N.V. Class A Common Shares if LuxCo converts
its JBS N.V. Class A Common Shares into JBS N.V. Class B Common Shares during the Class&nbsp;A Conversion Period, the Company respectfully advises the Staff that it does not believe that any conversion of JBS N.V. Class A Common Shares into JBS N.V.
Class B Common Shares by Luxco will have material impact. LuxCo, as a holding company, is not expected to actively trade in the JBS N.V. Class A Common Shares. In addition, Luxco will be restricted in its ability to freely trade either JBS N.V.
Class&nbsp;A Common Shares or JBS N.V. Class&nbsp;B Common Shares because any JBS N.V. Class A Common Shares that LuxCo may request to convert during the Class A Conversion Period will be &#147;restricted&#148; securities, as defined in Rule 144
under the Securities Act. Moreover, for so long as LuxCo is considered an &#147;affiliate&#148; of JBS N.V., as defined in Rule 144 under the Securities Act, LuxCo will hold &#147;control&#148; securities, as that term is generally interpreted for
U.S. federal securities law purposes. These factors further diminish the likelihood that any such conversion by LuxCo would negatively impact the liquidity of the JBS N.V. Class A Common Shares. Accordingly, the Company has not revised the
disclosure to address the effects of the conversion of JBS N.V. Class A Common Shares held by LuxCo into JBS N.V. Class B Common Shares </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Please revise to include disclosure related to the U.S. Senate Committee on Finance hearing held on
June&nbsp;22, 2023, the related <FONT STYLE="white-space:nowrap">two-year</FONT> investigation of JBS S.A., and the bill to enact the Cattle Price Discovery and Transparency Act. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on pages&nbsp;52 and 114-115 of the Registration
Statement in response. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Description of Material Indebtedness, page 175 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your disclosure on page 181 that &#147;Direct cattle suppliers have been requested to provide
information on their suppliers through the Transparent Livestock Platform that analyzes suppliers of our suppliers&#146; farm compliance, which will be validated by third parties&#148; and &#147;A transparent roadmap with intermediate targets to
benchmark progress from now until 2025 has also been developed. This includes annual targets based on the total slaughter of the previous year and expressed in number of head of cattle for each period, to ensure incremental progress. Annual targets
will be verified annually by a third party.&#148; Please revise to disclose (i)&nbsp;whether and how you will monitor compliance by direct cattle suppliers, including as to the reliability of information provided with respect to their suppliers,
(ii)&nbsp;the scope and timing of third party validation of supplier information and verification of annual targets, (iii)&nbsp;whether and how the transparent roadmap can be reviewed by investors, and (iv)&nbsp;the current status of supplier
participation in the Transparent Livestock Platform and your progress in meeting intermediate roadmap targets. Please also include or cross-reference to this information in your Business section, under &#147;Regulation&#148; or another appropriate
caption. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has revised the disclosure on
pages&nbsp;115-116 and 180-181 of the Registration Statement in response. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibits </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Exhibit 8.3 states, &#147;This opinion is solely addressed to JBS B.V. and may not be relied upon by any
other person, firm, company or institution without our prior written consent except for the Commission.&#148; Please request counsel to revise this limitation on reliance. Refer to Section III.D.1 of Staff Legal Bulletin 19 for guidance.
</B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company respectfully acknowledges the Staff&#146;s comment and has revised Exhibit 8.3 with the Registration
Statement in response. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We appreciate in advance your time and attention to our responses. Should you have any additional questions
or concerns, please contact John R. Vetterli of White&nbsp;&amp; Case LLP at (212) <FONT STYLE="white-space:nowrap">819-8816</FONT> or at jvetterli@whitecase.com Karen Katri of White&nbsp;&amp; Case LLP at (305)
<FONT STYLE="white-space:nowrap">925-4788</FONT> or at karen.katri@whitecase.com. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Gilberto Tomazoni</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Gilberto Tomazoni</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Executive Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">JBS B.V.</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Guilherme Cavalcanti, Chief Financial Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBS B.V.</I></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Donald E. Baker, Esq.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">John R. Vetterli, Esq.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Karen Katri, Esq.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White&nbsp;&amp; Case LLP</I></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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