By Leah Douglas
WASHINGTON (Reuters) -U.S. Senator Elizabeth Warren is pushing Brazilian meatpacker JBS SA (OTC:JBSAY) to explain its $5 million donation to the Trump-Vance Inaugural Committee and whether the money courted the Trump administration’s recent approval of its listing on the New York Stock Exchange.
JBS, the world’s largest meat company, received approval in April from the Securities and Exchange Commission to dual-list its shares in Brazil and New York after years of trying. The company’s donation to President Donald Trump’s inauguration festivities in January was the largest of any donor.
Warren, a Democrat, asked the company in a letter whether it or its subsidiary poultry company Pilgrim’s Pride (NASDAQ:PPC) had communicated with Trump or his team about the donations or listing approval.
Warren, who sits on the Senate Banking Committee, noted the Department of Justice has two ongoing civil investigations into Pilgrim’s Pride, including into how it pays its farmers and for antitrust matters.
"Your large donations and direct stake in federal policies and enforcement actions, and the Trump Administration’s series of actions that benefit your companies, raise serious concerns about a potential quid-pro-quo arrangement," Warren said in the letter, which was sent to the company on Monday and first reported by Reuters.
JBS did not immediately respond to a request for comment.
The company’s shareholders will vote on its NYSE listing on May 23. Environmental groups have slammed the listing, citing concerns over deforestation of the Amazon (NASDAQ:AMZN) for livestock production and the company’s emissions of greenhouse gases.
JBS in February agreed to pay $83.5 million to settle antitrust claims that it conspired with other meatpackers to keep meat prices artificially high.