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Article Date: June 2017
Word Count: 173

Bribery Scandal May Force Alpargatas Sale

J&F Investimentos, the Brazilian conglomerate that owns the majority of Alpargatas, may have to sell the company to enable a major shareholder to pay a reported R$11 billion ($3.37 billion) fine. Joesley Batista, his brother Wesley and four other executives agreed to pay the fine in a reported plea bargain with Brazilian judicial authorities over a major bribery scandal. The owners of J&F have also been involved in other investigations for alleged insider trading and other offenses over the past 12 months.


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